Ghana: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in Ghana

The Ghanian industrial monocarboxylic fatty acids market totaled $X in 2021, increasing by 2.1% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Industrial Monocarboxylic Fatty Acids in Ghana

In value terms, industrial monocarboxylic fatty acids production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 68% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Ghana

In 2021, industrial monocarboxylic fatty acids exports from Ghana fell dramatically to X tons, with a decrease of -39.3% against the previous year's figure. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 324%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then fell dramatically in the following year.

In value terms, industrial monocarboxylic fatty acids exports shrank markedly to $X in 2021. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 320%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Ghana, with a 58% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to Nigeria exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by Niger (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria amounted to +99.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+43.5% per year) and Niger (+80.6% per year).

In value terms, the largest markets for industrial monocarboxylic fatty acids exported from Ghana were Nigeria ($X), Spain ($X) and Niger ($X), together accounting for 84% of total exports. Senegal, Togo, Burkina Faso, Turkey and the Netherlands lagged somewhat behind, together comprising a further 15%.

Togo, with a CAGR of +118.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, reducing by -8.1% against the previous year. In general, the export price showed a abrupt setback. The pace of growth was the most pronounced in 2014 an increase of 6.5%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Togo (-5.5%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Ghana

In 2021, imports of industrial monocarboxylic fatty acids into Ghana surged to X tons, rising by 57% against the previous year. Overall, imports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 7,154%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, industrial monocarboxylic fatty acids imports surged to $X in 2021. In general, imports showed a strong expansion. The growth pace was the most rapid in 2014 with an increase of 7,404% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of industrial monocarboxylic fatty acids to Ghana, with a 39% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Indonesia exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. The UK (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia stood at -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+19.6% per year) and the UK (-9.4% per year).

In value terms, Denmark ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Ghana, comprising 36% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Malaysia, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Denmark stood at +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+36.1% per year) and Malaysia (+12.8% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, growing by 48% against the previous year. Overall, the import price posted a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of 65%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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 Denmark ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+26.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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