ECOWAS: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in ECOWAS

The ECOWAS amine-function compounds market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Amine-Function Compounds Production in ECOWAS

In value terms, amine-function compounds production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Amine-Function Compounds Exports

Exports in ECOWAS

In 2021, the amount of amine-function compounds exported in ECOWAS declined markedly to X tons, which is down by -94.6% against the year before. In general, exports faced a deep setback. The growth pace was the most rapid in 2020 when exports increased by 10,663% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, amine-function compounds exports contracted dramatically to $X in 2021. Over the period under review, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 745%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, accounting for X tons, which was near 97% of total exports in 2021. Sierra Leone (X kg) held a minor share of total exports.

Senegal was also the fastest-growing in terms of the amine-function compounds exports, with a CAGR of -8.2% from 2012 to 2021. Sierra Leone (-29.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal and Sierra Leone increased by +44 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest amine-function compounds supplier in ECOWAS, comprising 93% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 4.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled -14.6%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, picking up by 351% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, 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 Sierra Leone ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (-1.0%).

Amine-Function Compounds Imports

Imports in ECOWAS

In 2021, imports of amine-function compounds in ECOWAS soared to X tons, growing by 73% compared with the year before. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, amine-function compounds imports surged to $X in 2021. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the largest importer of amine-function compounds in ECOWAS, with the volume of imports reaching X tons, which was approx. 54% of total imports in 2021. Burkina Faso (X tons) ranks second in terms of the total imports with a 21% share, followed by Gambia (6.5%) and Mali (6.3%). Senegal (X tons), Ghana (X tons) and Niger (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to amine-function compounds imports into Nigeria stood at +30.1%. At the same time, Gambia (+77.1%), Burkina Faso (+71.6%), Mali (+22.9%), Niger (+9.3%), Senegal (+8.2%) and Ghana (+7.2%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +77.1% from 2012-2021. While the share of Burkina Faso (+20 p.p.), Nigeria (+14 p.p.) and Gambia (+6.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mali (-1.5 p.p.), Niger (-8.3 p.p.), Ghana (-11.7 p.p.) and Senegal (-12 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported amine-function compounds in ECOWAS, comprising 44% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a 20% share of total imports. It was followed by Niger, with a 13% share.

In Nigeria, amine-function compounds imports increased at an average annual rate of +14.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+45.5% per year) and Niger (+4.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, falling by -18.2% against the previous year. Over the period under review, the import price saw a abrupt setback. The growth pace was the most rapid in 2016 an increase of 32%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Niger ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform