ECOWAS: Direct Dye Market 2024

Direct Dye Market Size in ECOWAS

The ECOWAS direct dye market contracted slightly to $X in 2021, waning by -2.6% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.2% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Direct Dye Production in ECOWAS

In value terms, direct dye production dropped modestly to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.4% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Direct Dye Exports

Exports in ECOWAS

In 2021, shipments abroad of direct dyes and preparations based thereon decreased by -29.8% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports faced a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 570%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, direct dye exports dropped to $X in 2021. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 with an increase of 819%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Togo (X tons) represented the largest exporter of direct dyes and preparations based thereon, creating 58% of total exports. Cote d'Ivoire (X kg) took the second position in the ranking, followed by Nigeria (X kg) and Ghana (X kg). All these countries together took near 42% share of total exports.

Togo was also the fastest-growing in terms of the direct dyes and preparations based thereon exports, with a CAGR of +44.1% from 2012 to 2021. At the same time, Nigeria (+10.7%) displayed positive paces of growth. By contrast, Ghana (-20.0%) and Cote d'Ivoire (-25.7%) illustrated a downward trend over the same period. While the share of Togo (+57 p.p.) and Nigeria (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-8.1 p.p.) and Cote d'Ivoire (-64.6 p.p.) displayed negative dynamics.

In value terms, the largest direct dye supplying countries in ECOWAS were Togo ($X), Cote d'Ivoire ($X) and Nigeria ($X), together accounting for 98% of total exports.

In terms of the main exporting countries, Togo, with a CAGR of +40.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with an increase of 34% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 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 (+8.0%), while the other leaders experienced a decline in the export price figures.

Direct Dye Imports

Imports in ECOWAS

For the fourth year in a row, ECOWAS recorded decline in supplies from abroad of direct dyes and preparations based thereon, which decreased by -35.3% to X tons in 2021. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 78% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, direct dye imports expanded to $X in 2021. Over the period under review, imports faced a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 95%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Benin (X tons) and Nigeria (X tons) represented roughly 64% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Cabo Verde (X tons), together constituting a 30% share of total imports. Mali (X kg) and Guinea (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cabo Verde (with a CAGR of +46.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported direct dyes and preparations based thereon in ECOWAS, comprising 50% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 24% share of total imports. It was followed by Benin, with an 11% share.

In Nigeria, direct dye imports expanded at an average annual rate of +13.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-2.1% per year) and Benin (+5.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 62% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform