ECOWAS: Dichloromethane Market 2024

Dichloromethane Market Size in ECOWAS

In 2021, the ECOWAS dichloromethane market decreased by -19.2% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 +33.8% against 2017 indices. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Dichloromethane Production in ECOWAS

In value terms, dichloromethane production expanded to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Dichloromethane Exports

Exports in ECOWAS

For the fifth consecutive year, ECOWAS recorded decline in shipments abroad of dichloromethane (methylene chloride), which decreased by -13.1% to X tons in 2021. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 302% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, dichloromethane exports fell dramatically to $X in 2021. Over the period under review, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2016 with an increase of 342% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Nigeria (X tons) was the key exporter of dichloromethane (methylene chloride), committing 58% of total exports. Ghana (X tons) held the second position in the ranking, distantly followed by Togo (X kg). All these countries together took approx. 42% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +10.4%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest dichloromethane supplying countries in ECOWAS were Ghana ($X), Nigeria ($X) and Togo ($X), together accounting for 99% of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +6.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, dropping by -3.6% against the previous year. Overall, the export price showed a mild descent. The pace of growth was the most pronounced in 2018 an increase of 28% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Dichloromethane Imports

Imports in ECOWAS

In 2021, purchases abroad of dichloromethane (methylene chloride) decreased by -36.2% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 61%. As a result, imports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, dichloromethane imports declined to $X in 2021. In general, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2020 when imports increased by 61%. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was approx. 69% of total imports in 2021. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Ghana (X tons). All these countries together held approx. 14% share of total imports. Burkina Faso (X tons), Togo (X tons), Senegal (X tons) and Guinea (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to dichloromethane imports into Nigeria stood at +4.5%. At the same time, Ghana (+25.8%), Togo (+24.4%), Burkina Faso (+18.4%), Guinea (+13.1%), Cote d'Ivoire (+11.3%) and Senegal (+6.7%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +25.8% from 2012-2021. Ghana (+4.8 p.p.), Togo (+2.7 p.p.), Cote d'Ivoire (+2.7 p.p.) and Burkina Faso (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -13.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported dichloromethane (methylene chloride) in ECOWAS, comprising 73% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7% share of total imports. It was followed by Ghana, with a 6.1% share.

In Nigeria, dichloromethane imports expanded at an average annual rate of +7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+9.5% per year) and Ghana (+27.6% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 53% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dichloromethane import price increased by +34.5% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform