Report Update Nov 1, 2024

ECOWAS - Industrial Stearic Acid - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in ECOWAS

The ECOWAS industrial stearic acid market reduced to $X in 2021, declining by -8.4% against the previous year. Overall, consumption showed a perceptible decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Industrial Stearic Acid Production in ECOWAS

In value terms, industrial stearic acid production stood at $X in 2021 estimated in export price. Overall, production, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2016 when the production volume increased by 25% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in overseas shipments of industrial stearic acid, which increased by 19% to X tons in 2021. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 181%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant increase. The level of export peaked at $X in 2017; afterwards, it flattened through to 2021.

Exports by Country

In 2021, Senegal (X tons) and Sierra Leone (X tons) represented the largest exporters of industrial stearic acid in ECOWAS, together mixing up 85% of total exports. It was distantly followed by Ghana (X tons), committing an 11% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of +14.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X), Sierra Leone ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +90.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, rising by 54% against the previous year. In general, the export price, however, saw a mild reduction. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+92.2%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in ECOWAS

In 2021, approx. X tons of industrial stearic acid were imported in ECOWAS; which is down by -40.4% on the previous year's figure. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 216%. As a result, imports reached the peak of X tons, and then reduced dramatically in the following year.

In value terms, industrial stearic acid imports contracted markedly to $X in 2021. Overall, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 265% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

Senegal (X tons) and Nigeria (X tons) represented roughly 75% of total imports in 2021. Cote d'Ivoire (X tons) took the next position in the ranking, distantly followed by Ghana (X tons). All these countries together took approx. 19% share of total imports. Togo (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +24.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid importing markets in ECOWAS were Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X), together comprising 87% of total imports.

Senegal, with a CAGR of +25.6%, recorded the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 33% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the industrial stearic acid market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143120 - Industrial stearic acid

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023