Report Update Nov 1, 2024

Ghana - Acetic Acid - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Acetic Acid Market 2024

Acetic Acid Market Size in Ghana

In 2021, the Ghanian acetic acid market increased by 5.8% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a pronounced decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Acetic Acid Exports

Exports from Ghana

In 2021, overseas shipments of acetic acid decreased by -24.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 398%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, acetic acid exports declined to $X in 2021. Overall, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 171% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for acetic acid exports from Ghana, accounting for a 95% share of total exports. Moreover, acetic acid exports to Burkina Faso exceeded the volume sent to the second major destination, Senegal (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso stood at +79.0%.

In value terms, Burkina Faso ($X) remains the key foreign market for acetic acid exports from Ghana, comprising 96% of total exports. The second position in the ranking was taken by Senegal ($X), with a 4.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Burkina Faso amounted to +83.2%.

Export Prices by Country

In 2021, the average acetic acid export price amounted to $X per ton, picking up by 15% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 39%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+3.3%), while the prices for the other major destinations experienced mixed trend patterns.

Acetic Acid Imports

Imports into Ghana

Acetic acid imports into Ghana declined to X tons in 2021, with a decrease of -10% against the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 47%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, acetic acid imports expanded significantly to $X in 2021. In general, imports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2017 when imports increased by 80%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), China (X tons) and India (X tons) were the main suppliers of acetic acid imports to Ghana, together accounting for 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +22.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid suppliers to Ghana were South Korea ($X), India ($X) and China ($X), with a combined 82% share of total imports.

China, with a CAGR of +29.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average acetic acid import price amounted to $X per ton, growing by 20% against the previous year. In general, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 32%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for acetic acid in the world?

India remains the largest acetic acid consuming country worldwide, comprising approx. 34% of total volume. Moreover, acetic acid consumption in India exceeded the figures recorded by the second-largest consumer, China, twofold. The third position in this ranking was occupied by the United States, with a 5.4% share.

What are the largest producers of acetic acid in the world?

The countries with the highest volumes of acetic acid production in 2021 were China, the United States and Malaysia, with a combined 58% share of global production. These countries were followed by the UK, Taiwan Chinese), Russia, South Korea, Singapore, Saudi Arabia, Japan, Iran and Serbia, which together accounted for a further 31%.

What are the leading suppliers of acetic acid to Ghana?

In value terms, the largest acetic acid suppliers to Ghana were South Korea, China and India, together accounting for 53% of total imports.

What are the leading importers of acetic acid from Ghana?

In value terms, Burkina Faso remains the key foreign market for acetic acid exports from Ghana, comprising 84% of total exports. The second position in the ranking was occupied by Senegal, with a 16% share of total exports.

What is the average export price for acetic acid in Ghana?

In 2021, the average acetic acid export price amounted to $2,050 per ton, standing approx. at the previous year.

What is the average import price for acetic acid in Ghana?

The average acetic acid import price stood at $637 per ton in 2021, with an increase of 4% against the previous year.

This report provides an in-depth analysis of the acetic acid market in Ghana. 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 20143271 - Acetic acid

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023