ECOWAS: Sulphur Market 2024

Sulphur Market Size in ECOWAS

The ECOWAS sulphur market fell slightly to $X in 2022, shrinking by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphur Production in ECOWAS

In value terms, sulphur production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a deep slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sulphur Exports

Exports in ECOWAS

In 2022, overseas shipments of sulphur decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a significant curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sulphur exports dropped dramatically to $X in 2022. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the key exporting country with an export of around X tons, which finished at X% of total exports. Ghana (X kg) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%). Togo (X kg) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Togo (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) emerged as the largest sulphur supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed resilient growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the export price figures.

Sulphur Imports

Imports in ECOWAS

In 2022, supplies from abroad of sulphur was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2017 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sulphur imports fell to $X in 2022. Over the period under review, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Senegal was the key importing country with an import of around X tons, which finished at X% of total imports. Benin (X tons) took the second position in the ranking, followed by Niger (X tons). All these countries together held approx. X% share of total imports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sulphur imports into Senegal stood at X%. At the same time, Nigeria (X%) and Benin (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Niger experienced a relatively flat trend pattern. From 2012 to 2022, the share of Senegal, Benin and Nigeria increased by X, X and X percentage points, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported sulphur in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Niger ($X), with a X% share of total imports. It was followed by Benin, with a X% share.

In Senegal, sulphur imports decreased by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Niger (X% per year) and Benin (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price showed a pronounced setback. The growth pace was the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Niger ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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