ECOWAS: Basic Dye Market 2024

Basic Dye Market Size in ECOWAS

The ECOWAS basic dye market expanded rapidly to $X in 2021, picking up by 5.4% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Basic Dye Production in ECOWAS

In value terms, basic dye production amounted to $X in 2021 estimated in export price. In general, production showed a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 34% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Basic Dye Exports

Exports in ECOWAS

In 2021, shipments abroad of basic dyes and preparations based thereon increased by 215% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 218%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, basic dye exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Niger (X tons) represented the major exporter of basic dyes and preparations based thereon, comprising 63% of total exports. Nigeria (X tons) held the second position in the ranking, distantly followed by Senegal (X kg) and Ghana (X kg). All these countries together held approx. 33% share of total exports. Togo (X kg) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the basic dyes and preparations based thereon exports, with a CAGR of +185.7% from 2012 to 2021. At the same time, Nigeria (+34.2%), Ghana (+30.9%) and Senegal (+6.1%) displayed positive paces of growth. By contrast, Togo (-25.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger, Nigeria and Ghana increased by +63, +19 and +4 percentage points, respectively.

In value terms, Niger ($X) emerged as the largest basic dye supplier in ECOWAS, comprising 78% of total exports. The second position in the ranking was taken by Togo ($X), with an 11% share of total exports. It was followed by Nigeria, with a 7.6% share.

In Niger, basic dye exports expanded at an average annual rate of +274.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (+0.7% per year) and Nigeria (+41.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, surging by 76% against the previous year. Overall, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 201% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+34.8%), while the other leaders experienced more modest paces of growth.

Basic Dye Imports

Imports in ECOWAS

For the fifth consecutive year, ECOWAS recorded growth in overseas purchases of basic dyes and preparations based thereon, which increased by 4.7% to X tons in 2021. Over the period under review, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, basic dye imports shrank modestly to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.5% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 55% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then shrank slightly in the following year.

Imports by Country

Nigeria dominates imports structure, recording X tons, which was near 81% of total imports in 2021. It was distantly followed by Mali (X tons) and Ghana (X tons), together making up a 12% share of total imports. Cote d'Ivoire (X tons) and Gambia (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to basic dye imports into Nigeria stood at +4.3%. At the same time, Gambia (+79.8%), Mali (+18.3%) and Cote d'Ivoire (+1.2%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +79.8% from 2012-2021. By contrast, Ghana (-9.2%) illustrated a downward trend over the same period. While the share of Nigeria (+9.3 p.p.), Mali (+4.8 p.p.) and Gambia (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-11.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported basic dyes and preparations based thereon in ECOWAS, comprising 74% of total imports. The second position in the ranking was held by Mali ($X), with an 8.3% share of total imports. It was followed by Cote d'Ivoire, with an 8.1% share.

In Nigeria, basic dye imports expanded at an average annual rate of +6.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mali (+22.4% per year) and Cote d'Ivoire (+9.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with a decrease of -4.5% against the previous year. Import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, basic dye import price increased by +5.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform