Western Africa: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Western Africa

The West African diammonium phosphate market soared to $X in 2023, picking up by X% against the previous year. The total consumption indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in years to come.

Diammonium Phosphate Production in Western Africa

In value terms, diammonium phosphate production expanded significantly to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Diammonium Phosphate Exports

Exports in Western Africa

In 2023, overseas shipments of diammonium phosphate increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, diammonium phosphate exports surged to $X in 2023. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in years to come.

Exports by Country

Nigeria represented the main exporting country with an export of about X tons, which accounted for X% of total exports. Mali (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%), Ghana (X%) and Senegal (X%).

From 2012 to 2023, the biggest increases were recorded for Mali (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Nigeria ($X) and Senegal ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, Mali, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price, however, recorded mild growth. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Diammonium Phosphate Imports

Imports in Western Africa

In 2023, overseas purchases of diammonium phosphate increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, diammonium phosphate imports skyrocketed to $X in 2023. In general, imports showed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the key importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), making up a X% share of total imports. Burkina Faso (X tons), Niger (X tons), Mali (X tons), Mauritania (X tons) and Ghana (X tons) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Ghana (X%), Mauritania (X%), Mali (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Niger (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. While the share of Nigeria (X p.p.), Mauritania (X p.p.), Mali (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Niger (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported diammonium phosphate in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Mauritania, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Mauritania (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price saw a perceptible contraction. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mauritania ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform