Ghana: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in Ghana

The Ghanian polycarboxylic acid market skyrocketed to $X in 2021, jumping by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a tangible expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Polycarboxylic Acid Exports

Exports from Ghana

For the eighth year in a row, Ghana recorded growth in overseas shipments of polycarboxylic acids, which increased by 20% to X tons in 2021. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 2,618% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, polycarboxylic acid exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 2,844% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for polycarboxylic acid exports from Ghana, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire stood at +79.7%.

In value terms, Cote d'Ivoire ($X) also remains the key foreign market for polycarboxylic acids exports from Ghana.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire totaled +49.3%.

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 52% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to -16.9% per year.

Polycarboxylic Acid Imports

Imports into Ghana

Polycarboxylic acid imports into Ghana fell modestly to X tons in 2021, with a decrease of -3.8% compared with the previous year's figure. Over the period under review, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 150% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, polycarboxylic acid imports skyrocketed to $X in 2021. In general, imports, however, showed a mild expansion. The pace of growth appeared the most rapid in 2020 with an increase of 98%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest polycarboxylic acid supplier to Ghana, with a 58% share of total imports. Moreover, polycarboxylic acid imports from South Korea exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+22.3% per year) and Taiwan (Chinese) (+19.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of polycarboxylic acids to Ghana, comprising 55% of total imports. The second position in the ranking was held by Russia ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+22.8% per year) and Taiwan (Chinese) (+20.0% per year).

Import Prices by Country

The average polycarboxylic acid import price stood at $X per ton in 2021, rising by 40% against the previous year. Over the period under review, the import price, however, saw a deep downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :