ECOWAS: Cyclohexanone And Methylcyclohexanones Market 2024

Cyclohexanone And Methylcyclohexanones Market Size in ECOWAS

In 2021, the ECOWAS cyclohexanone and methylcyclohexanones market increased by 31% to $X, rising for the fifth year in a row after two years of decline. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +126.1% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Cyclohexanone And Methylcyclohexanones Production in ECOWAS

In value terms, cyclohexanone and methylcyclohexanones production fell modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a precipitous contraction. The growth pace was the most rapid in 2017 when the production volume increased by 2,992% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Cyclohexanone And Methylcyclohexanones Exports

Exports in ECOWAS

In 2021, overseas shipments of cyclohexanone and methylcyclohexanones were finally on the rise to reach X tons after eight years of decline. In general, exports, however, showed a abrupt downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cyclohexanone and methylcyclohexanones exports surged to $X in 2021. Overall, exports, however, saw a abrupt setback. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) represented roughly 100% of total exports in 2021.

Cote d'Ivoire was also the fastest-growing in terms of the cyclohexanone and methylcyclohexanones exports, with a CAGR of -13.6% from 2012 to 2021. While the share of Cote d'Ivoire (+21 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest cyclohexanone and methylcyclohexanones supplier in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled -8.8%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -12.1% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cyclohexanone and methylcyclohexanones export price increased by +41.6% against 2014 indices. The most prominent rate of growth was recorded in 2020 an increase of 15%. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +5.5% per year.

Cyclohexanone And Methylcyclohexanones Imports

Imports in ECOWAS

Cyclohexanone and methylcyclohexanones imports expanded notably to X tons in 2021, with an increase of 6% on the previous year. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +87.9% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 25% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, cyclohexanone and methylcyclohexanones imports surged to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +142.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Cote d'Ivoire (X tons) was the largest importer of cyclohexanone and methylcyclohexanones, generating 69% of total imports. It was distantly followed by Nigeria (X tons), generating a 28% share of total imports. Guinea (X tons) held a relatively small share of total imports.

Imports into Cote d'Ivoire increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Guinea (+26.5%) and Nigeria (+5.2%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +26.5% from 2012-2021. Guinea (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported cyclohexanone and methylcyclohexanones in ECOWAS, comprising 69% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 26% share of total imports.

In Cote d'Ivoire, cyclohexanone and methylcyclohexanones imports increased at an average annual rate of +3.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+5.3% per year) and Guinea (+24.8% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 38% against the previous year. Overall, the import price, however, showed a slight decline. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guinea ($X per ton), while Nigeria ($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 (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform