ECOWAS - Nitric Acid and Sulphonitric Acids - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Nitric Acid And Sulphonitric Acids 2024
Market Size for Nitric Acid And Sulphonitric Acids in ECOWAS
In 2023, after three years of growth, there was significant decline in the ECOWAS nitric and sulphonitric acids market, when its value decreased by X% to $X. The total consumption indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2015 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.
Production of Nitric Acid And Sulphonitric Acids in ECOWAS
In value terms, nitric and sulphonitric acids production reduced sharply to $X in 2023 estimated in export price. Overall, production recorded a noticeable slump. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, production attained the peak level of $X, and then shrank notably in the following year.
Exports of Nitric Acid And Sulphonitric Acids
Exports in ECOWAS
In 2023, shipments abroad of nitric acid and sulphonitric acids decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank markedly in the following year.
In value terms, nitric and sulphonitric acids exports dropped notably to $X in 2023. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then contracted sharply in the following year.
Exports by Country
Nigeria was the major exporter of nitric acid and sulphonitric acids in ECOWAS, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. Burkina Faso (X tons) held the second position in the ranking, distantly followed by Togo (X tons), Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together took near X% share of total exports.
From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Nigeria ($X) remains the largest nitric and sulphonitric acids supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports. It was followed by Togo, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Togo (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.
Imports of Nitric Acid And Sulphonitric Acids
Imports in ECOWAS
In 2023, after four years of growth, there was significant decline in purchases abroad of nitric acid and sulphonitric acids, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.
In value terms, nitric and sulphonitric acids imports contracted significantly to $X in 2023. In general, imports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.
Imports by Country
The countries with the highest levels of nitric and sulphonitric acids imports in 2023 were Burkina Faso (X tons), Ghana (X tons), Senegal (X tons), Nigeria (X tons), Niger (X tons), Guinea (X tons), Mali (X tons), Cote d'Ivoire (X tons) and Cabo Verde (X tons), together resulting at X% of total import.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest nitric and sulphonitric acids importing markets in ECOWAS were Burkina Faso ($X), Ghana ($X) and Nigeria ($X), with a combined X% share of total imports. Senegal, Cabo Verde, Mali, Niger, Cote d'Ivoire and Guinea lagged somewhat behind, together accounting for a further X%.
Guinea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cabo Verde (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for nitric and sulphonitric acids in ECOWAS. 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:
- Prodcom 20151050 - Nitric acid, sulphonitric acids
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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