Report Update May 1, 2024

ECOWAS - Nitrites - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Nitrites Market 2024

Nitrites Market Size in ECOWAS

In 2023, the ECOWAS nitrites market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a measured increase. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Nitrites Production in ECOWAS

In value terms, nitrites production surged to $X in 2023 estimated in export price. In general, production, however, posted resilient growth. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2023.

Nitrites Exports

Exports in ECOWAS

In 2023, overseas shipments of nitrites decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. The volume of export peaked at X tons in 2022, and then reduced markedly in the following year.

In value terms, nitrites exports dropped rapidly to $X in 2023. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then reduced rapidly in the following year.

Exports by Country

Ghana (X tons) represented roughly X% of total exports in 2023.

Ghana was also the fastest-growing in terms of the nitrites exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest nitrites supplier in ECOWAS.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana totaled X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then reduced slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2023, the rate of growth in terms of prices for Ghana amounted to X% per year.

Nitrites Imports

Imports in ECOWAS

In 2023, purchases abroad of nitrites decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, nitrites imports skyrocketed to $X in 2023. Over the period under review, imports, however, showed a prominent increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Ghana (X tons) represented the largest importer of nitrites, mixing up X% of total imports. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%) and Cote d'Ivoire (X%). The following importers - Senegal (X tons), Liberia (X tons) and Sierra Leone (X tons) - together made up X% of total imports.

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

In value terms, Ghana ($X) constitutes the largest market for imported nitrites in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Mali ($X), with a X% share of total imports. It was followed by Nigeria, with an X% share.

In Ghana, nitrites imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Mali (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the import price recorded noticeable growth. The pace of growth was the most pronounced in 2017 an increase of X%. The level of import peaked in 2023 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the nitrites market 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 20152080 - Nitrites

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.

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
- Niger
- Nigeria
- 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