Ghana: Chromates Market 2022

Chromates Market Size in Ghana

In 2021, after two years of decline, there was significant growth in the Ghanian chromates market, when its value increased by X% to $X. Overall, consumption, however, continues to indicate a deep contraction. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Chromates Exports

Exports from Ghana

In 2021, approx. less than X kg of chromates, dichromates and peroxochromates were exported from Ghana; approximately reflecting the year before. Over the period under review, exports showed a precipitous descent. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, chromates exports totaled less than $X in 2021. Overall, exports showed a sharp decline. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X kg) was the main destination for chromates exports from Ghana, with a approx. X% share of total exports.

From 2012 to 2019, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest.

From 2012 to 2019, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest.

Export Prices by Country

The average chromates export price stood at $X per ton in 2019, approximately mirroring the previous year. In general, the export price enjoyed a pronounced increase. The export price peaked in 2019 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2019, the rate of growth in terms of prices for Hong Kong SAR amounted to X% per year.

Chromates Imports

Imports into Ghana

In 2021, purchases abroad of chromates, dichromates and peroxochromates was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, chromates imports stood at $X in 2021. Overall, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest chromates supplier to Ghana, accounting for a X% share of total imports. Moreover, chromates imports from China exceeded the figures recorded by the second-largest supplier, the UK (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and South Africa (-X% per year).

In value terms, China ($X) constituted the largest supplier of chromates to Ghana, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and South Africa (-X% per year).

Import Prices by Country

The average chromates import price stood at $X per ton in 2021, waning by -X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then contracted sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Africa ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform