ECOWAS: Market for Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) 2024

Market Size for Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) in ECOWAS

In 2021, the ECOWAS cyclanes, cyclenes and cycloterpenes market decreased by -5.9% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, consumption, however, continues to indicate a strong increase. The level of consumption peaked at $X in 2020, and then fell in the following year.

Production of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) in ECOWAS

In value terms, cyclanes, cyclenes and cycloterpenes production reduced to $X in 2021 estimated in export price. Overall, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48%. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Exports of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane)

Exports in ECOWAS

In 2021, the amount of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) exported in ECOWAS fell to X tons, with a decrease of -8.5% compared with the year before. Overall, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 41,427%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cyclanes, cyclenes and cycloterpenes exports reduced modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 24,639%. As a result, the exports attained the peak of $X, and then fell slightly in the following year.

Exports by Country

In 2021, Nigeria (X tons) was the key exporter of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) in ECOWAS, committing 99.9% of total export.

Nigeria was also the fastest-growing in terms of the cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) exports, with a CAGR of +13.6% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +84 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest cyclanes, cyclenes and cycloterpenes supplier in ECOWAS.

In Nigeria, cyclanes, cyclenes and cycloterpenes exports expanded at an average annual rate of +24.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, picking up by 8.2% against the previous year. Over the period under review, the export price saw a significant expansion. The pace of growth was the most pronounced in 2015 an increase of 72%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +9.8% per year.

Imports of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane)

Imports in ECOWAS

After two years of growth, supplies from abroad of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) decreased by -23.5% to X tons in 2021. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, cyclanes, cyclenes and cycloterpenes imports declined remarkably to $X in 2021. In general, imports saw a perceptible slump. The growth pace was the most rapid in 2014 when imports increased by 69%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Togo was the key importer of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) in ECOWAS, with the volume of imports finishing at X tons, which was near 57% of total imports in 2021. Nigeria (X tons) ranks second in terms of the total imports with a 30% share, followed by Ghana (6.3%). Cote d'Ivoire (X tons) held a minor 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 Ghana (with a CAGR of +36.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, together accounting for 92% of total imports. These countries were followed by Ghana, which accounted for a further 6%.

In terms of the main importing countries, Ghana, with a CAGR of +37.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with a decrease of -8.8% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 16% against the previous year. The level of import peaked at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($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 (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform