Western Africa: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Western Africa

The West African sodium phosphates market soared to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption saw buoyant growth. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Sodium Phosphates Production in Western Africa

In value terms, sodium phosphates production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sodium Phosphates Exports

Exports in Western Africa

In 2022, shipments abroad of phosphates of mono- or di-sodium decreased by X% to X tons, falling for the fifth year in a row after three years of growth. Over the period under review, exports showed a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sodium phosphates exports surged to $X in 2022. In general, exports showed a noticeable setback. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Sierra Leone dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Nigeria (X kg), making up a X% share of total exports.

Sierra Leone was also the fastest-growing in terms of the phosphates of mono- or di-sodium exports, with a CAGR of X% from 2012 to 2022. Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sierra Leone increased by X percentage points.

In value terms, the largest sodium phosphates supplying countries in Western Africa were Nigeria ($X) and Sierra Leone ($X).

Among the main exporting countries, Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price posted slight growth. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

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 Sierra Leone stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Sodium Phosphates Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded growth in purchases abroad of phosphates of mono- or di-sodium, which increased by X% to X tons in 2022. Overall, imports posted a prominent expansion. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, sodium phosphates imports skyrocketed to $X in 2022. In general, imports saw a resilient increase. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the major importer of phosphates of mono- or di-sodium in Western Africa, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons), committing a X% share of total imports. Senegal (X tons) followed a long way behind the leaders.

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

In value terms, Nigeria ($X) constitutes the largest market for imported phosphates of mono- or di-sodium in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports.

In Nigeria, sodium phosphates imports increased 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: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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