Ghana: Rare Gases Market 2024

Rare Gases Market Size in Ghana

In 2023, the Ghanian rare gases market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, recorded a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Rare Gases Production in Ghana

In value terms, rare gases production soared to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Rare Gases Exports

Exports from Ghana

For the third year in a row, Ghana recorded growth in overseas shipments of rare gases (excluding argon), which increased by X% to X cubic meters in 2023. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X cubic meters in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, rare gases exports skyrocketed to $X in 2023. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

Exports by Country

Sierra Leone (X cubic meters) was the main destination for rare gases exports from Ghana, with a X% share of total exports. It was followed by Benin (X cubic meters), with a X% share of total exports. The United Arab Emirates (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Sierra Leone totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and the United Arab Emirates (X% per year).

In value terms, Sierra Leone ($X) remains the key foreign market for rare gases (excluding argon) exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Sierra Leone amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average rare gases export price amounted to $X per cubic meter, growing by X% against the previous year. Overall, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per cubic meter) and Sierra Leone ($X per cubic meter), while the average price for exports to Benin ($X per cubic meter) and Cote d'Ivoire ($X per cubic meter) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sierra Leone (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Ghana

In 2023, approx. X cubic meters of rare gases (excluding argon) were imported into Ghana; jumping by X% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a noticeable decline. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X cubic meters in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, rare gases imports skyrocketed to $X in 2023. Overall, imports showed a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

France (X cubic meters), the United Arab Emirates (X cubic meters) and India (X cubic meters) were the main suppliers of rare gases imports to Ghana, with a combined X% share of total imports.

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

In value terms, the largest rare gases suppliers to Ghana were France ($X), the United Arab Emirates ($X) and the United States ($X), together accounting for X% of total imports. Qatar, India, China and the UK lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average rare gases import price amounted to $X per cubic meter, increasing by X% against the previous year. Overall, the import price continues to indicate a notable increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Qatar ($X per cubic meter), while the price for the UK ($X per thousand cubic meters) was amongst the lowest.

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

Source: IndexBox Platform