ECOWAS: Colour Lake Market 2024

Colour Lake Market Size in ECOWAS

The ECOWAS colour lake market reduced to $X in 2021, declining by -5.8% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Colour Lake Production in ECOWAS

In value terms, colour lake production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Colour Lake Exports

Exports in ECOWAS

In 2021, shipments abroad of colour lakes, preparations based on colour lakes increased by 3.3% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, saw a mild curtailment. The pace of growth was the most pronounced in 2014 with an increase of 121%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, colour lake exports reached $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 125%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, resulting at X tons, which was near 92% of total exports in 2021. It was distantly followed by Mali (X tons), constituting a 7.8% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -2.6% from 2012 to 2021. At the same time, Mali (+35.9%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +35.9% from 2012-2021. While the share of Mali (+7.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-6.7 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest colour lake supplier in ECOWAS, comprising 76% of total exports. The second position in the ranking was held by Mali ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to -3.3%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2016 an increase of 32%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+19.6%).

Colour Lake Imports

Imports in ECOWAS

In 2021, after three years of growth, there was significant decline in overseas purchases of colour lakes, preparations based on colour lakes, when their volume decreased by -36.7% to X tons. Over the period under review, imports saw a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 81%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, colour lake imports declined rapidly to $X in 2021. In general, imports saw a noticeable reduction. The pace of growth appeared the most rapid in 2020 with an increase of 96% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of colour lake imports in 2021 were Cote d'Ivoire (X tons), Mali (X tons) and Nigeria (X tons), together reaching 86% of total import. It was distantly followed by Ghana (X tons), committing a 7% share of total imports. The following importers - Togo (X tons), Senegal (X tons) and Guinea (X tons) - each accounted for a 5.4% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +29.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest colour lake importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined 74% share of total imports.

Cote d'Ivoire, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, reducing by -13% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, colour lake import price decreased by -23.5% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 98% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+14.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform