Report Update Apr 1, 2024

Western Africa - Iodine - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Iodine Market 2024

Iodine Market Size in Western Africa

The West African iodine market soared to $X in 2022, growing by X% against the previous year. In general, consumption enjoyed a strong increase. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Iodine Production in Western Africa

In value terms, iodine production stood at $X in 2022 estimated in export price. Overall, production enjoyed significant growth. The pace of growth appeared the most rapid in 2019 with a decrease of X%. The level of production peaked in 2022 and is expected to retain growth in years to come.

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Iodine Exports

Exports in Western Africa

Iodine exports amounted to X tons in 2022, approximately mirroring 2021. Over the period under review, exports recorded a significant expansion. The smallest decline of X% was in 2014. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, iodine exports amounted to $X in 2022. Overall, exports posted a significant expansion. The smallest decline of X% was in 2014. The level of export peaked in 2022 and is expected to retain growth in the near future.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 a decrease of X% against the previous year. The level of export peaked at $X per ton in 2016; afterwards, it flattened through to 2022.

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 Cote d'Ivoire ($X per ton), while Togo totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%).

Iodine Imports

Imports in Western Africa

In 2022, supplies from abroad of iodine was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports recorded a significant increase. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, iodine imports soared to $X in 2022. In general, imports enjoyed a resilient increase. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons) was the largest importer of iodine, achieving X% of total imports. It was distantly followed by Niger (X tons), constituting a X% share of total imports. The following importers - Cabo Verde (X kg) and Burkina Faso (X kg) - each amounted to a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to iodine imports into Nigeria stood at X%. At the same time, Niger (X%), Burkina Faso (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Niger (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (X p.p.) and Cabo Verde (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported iodine in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a X% share of total imports. It was followed by Niger, with a X% share.

In Nigeria, iodine imports expanded at 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: Cabo Verde (X% per year) and Niger (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, showed a drastic downturn. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Niger ($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 mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iodine in Western Africa?

Nigeria constituted the country with the largest volume of iodine consumption, comprising approx. 66% of total volume. Moreover, iodine consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, fivefold. Niger ranked third in terms of total consumption with a 9.4% share.

What are the largest producers of iodine in Western Africa?

The countries with the highest volumes of production in 2022 were Ghana, Togo and Cote d'Ivoire, with a combined 84% share of total production.

What are the leading importers of iodine in Western Africa?

In value terms, Nigeria constitutes the largest market for imported iodine in Western Africa, comprising 88% of total imports. The second position in the ranking was held by Cabo Verde, with a 5.3% share of total imports. It was followed by Niger, with a 3% share.

What is the average export price for iodine in Western Africa?

The export price in Western Africa stood at $6,898 per ton in 2022, standing approx. at the previous year.

What is the average import price for iodine in Western Africa?

In 2022, the import price in Western Africa amounted to $13,135 per ton, rising by 25% against the previous year.

This report provides an in-depth analysis of the iodine market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Benin
Burkina Faso
Cabo Verde
Cote d'Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023