ECOWAS: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in ECOWAS

The ECOWAS plant-growth regulators market surged to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a buoyant increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Plant-Growth Regulators Production in ECOWAS

In value terms, plant-growth regulators production dropped to $X in 2022 estimated in export price. Overall, production, however, showed moderate growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Plant-Growth Regulators Exports

Exports in ECOWAS

After three years of decline, shipments abroad of plant-growth regulators increased by X% to X tons in 2022. In general, exports showed a moderate increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plant-growth regulators exports surged to $X in 2022. Overall, exports showed a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) were the key exporters of plant-growth regulators in 2022, amounting to approx. X% and X% of total exports, respectively. Nigeria (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%) and Niger (X%). Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Among the main exporting countries, Senegal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Plant-Growth Regulators Imports

Imports in ECOWAS

In 2022, plant-growth regulators imports in ECOWAS contracted to X tons, which is down by X% against the previous year's figure. In general, imports, however, recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, plant-growth regulators imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) was the major importer of plant-growth regulators, making up X% of total imports. Ghana (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%) and Guinea (X%). The following importers - Burkina Faso (X tons) and Benin (X tons) - each accounted for a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Benin (X%), Guinea (X%), Burkina Faso (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.), Guinea (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported plant-growth regulators in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, plant-growth regulators imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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