ECOWAS: Glycerol Market 2024

Glycerol Market Size in ECOWAS

The ECOWAS glycerol market amounted to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption enjoyed a buoyant increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Glycerol Production in ECOWAS

In value terms, glycerol production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Glycerol Exports

Exports in ECOWAS

For the third year in a row, ECOWAS recorded growth in overseas shipments of glycerol, which increased by X% to X tons in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, glycerol exports skyrocketed to $X in 2022. Overall, exports posted strong growth. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Senegal dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total exports.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Senegal, glycerol exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Glycerol Imports

Imports in ECOWAS

In 2022, imports of glycerol in ECOWAS expanded to X tons, surging by X% on the previous year's figure. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, glycerol imports soared to $X in 2022. Over the period under review, imports showed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the main importer of glycerol in ECOWAS, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons), Ghana (X tons) and Togo (X tons), together committing a X% share of total imports.

From 2012 to 2022, 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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2022, picking up by X% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glycerol import price increased by X% against 2020 indices. As a result, import price reached 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 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform