ECOWAS: Sulphur Market 2024

Sulphur Market Size in ECOWAS

The ECOWAS sulphur market plummeted to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption, however, recorded noticeable growth. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Sulphur Production in ECOWAS

In value terms, sulphur production fell slightly to $X in 2023 estimated in export price. In general, production recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Sulphur Exports

Exports in ECOWAS

Sulphur exports declined to X tons in 2023, therefore, remained relatively stable against the previous year's figure. Total exports indicated a buoyant expansion from 2012 to 2023: its volume 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, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, sulphur exports fell slightly to $X in 2023. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Nigeria (X tons), together finishing at X% of total export.

Nigeria was also the fastest-growing in terms of the sulphur 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, Nigeria ($X) also remains the largest sulphur supplier in ECOWAS.

From 2012 to 2023, the average annual growth rate of value in Nigeria stood at X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price faced a deep setback. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

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

Sulphur Imports

Imports in ECOWAS

After two years of growth, overseas purchases of sulphur decreased by X% to X tons in 2023. Total imports indicated pronounced growth from 2012 to 2023: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2022, and then contracted in the following year.

In value terms, sulphur imports declined rapidly to $X in 2023. Overall, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared 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 dropped significantly in the following year.

Imports by Country

Senegal represented the key importer of sulphur in ECOWAS, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. Benin (X tons) ranks second in terms of the total imports with a X% share, followed by Niger (X%) and Guinea (X%). Nigeria (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to sulphur imports into Senegal stood at X%. At the same time, Nigeria (X%) and Benin (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Niger experienced a relatively flat trend pattern. By contrast, Guinea (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Nigeria (X p.p.) and Benin (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Niger (X p.p.) and Guinea (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) constitutes the largest market for imported sulphur in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Niger ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Senegal, sulphur 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: Niger (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, showed a perceptible increase. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped rapidly in the following year.

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

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

Source: IndexBox Platform