ECOWAS: Hydantoin Market 2024

Hydantoin Market Size in ECOWAS

The ECOWAS hydantoin market rose remarkably to $X in 2022, growing by 5.4% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.7% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Hydantoin Production in ECOWAS

In value terms, hydantoin production expanded significantly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by 35% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Hydantoin Exports

Exports in ECOWAS

Hydantoin exports fell markedly to X kg in 2022, reducing by -19.6% compared with 2021. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 169%. As a result, the exports attained the peak of X kg. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, hydantoin exports fell to $X in 2022. Overall, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 183% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X kg), distantly followed by Senegal (X kg) represented the key exporters of hydantoin and its derivatives, together committing 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of -1.4%).

In value terms, Senegal ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Senegal, with a CAGR of -0.2%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by 10% against the previous year. Overall, the export price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, 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 Senegal ($X per ton), while Cote d'Ivoire totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+1.2%).

Hydantoin Imports

Imports in ECOWAS

For the third year in a row, ECOWAS recorded decline in overseas purchases of hydantoin and its derivatives, which decreased by -10.9% to X tons in 2022. In general, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 229%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hydantoin imports rose remarkably to $X in 2022. Over the period under review, imports showed a deep reduction. The pace of growth was the most pronounced in 2019 when imports increased by 218% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Cote d'Ivoire was the main importer of hydantoin and its derivatives in ECOWAS, with the volume of imports reaching X tons, which was near 45% of total imports in 2022. It was distantly followed by Nigeria (X tons), Togo (X tons) and Ghana (X tons), together creating a 53% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Togo (with a CAGR of +283.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 88% of total imports.

In terms of the main importing countries, Togo, with a CAGR of +260.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, rising by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2013 when the import price increased by 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Nigeria ($X per ton) and Cote d'Ivoire ($X per ton), while Togo ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform