Ghana: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Ghana

In 2021, the Ghanian market for lauric acid and other acids, their salts and esters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption continues to indicate a temperate expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Ghana

In 2021, the amount of lauric acid and other acids, their salts and esters exported from Ghana fell remarkably to X kg, dropping by -95.8% on 2020. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 1,831%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, exports of lauric acid and other acids, their salts and esters dropped dramatically to $X in 2021. Over the period under review, exports saw a dramatic curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 1,516% against the previous year. As a result, the exports attained the peak of $X, and then fell sharply in the following year.

Exports by Country

Burkina Faso (X kg), Togo (X kg) and Niger (X kg) were the main destinations of exports of lauric acid and other acids, their salts and esters from Ghana, with a combined 100% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +19.6%), while the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Niger ($X) and Togo ($X) constituted the largest markets for lauric acid and other acids, their salts and esters exported from Ghana worldwide, together accounting for 98% of total exports.

Burkina Faso, with a CAGR of -1.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, which is down by -5.2% against the previous year. Overall, the export price recorded a precipitous decline. The pace of growth appeared the most rapid in 2016 when the average export price decreased by -3%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Niger ($X per ton), while the average price for exports to Togo ($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 Niger (-11.7%), while the prices for the other major destinations experienced a decline.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Ghana

In 2021, overseas purchases of lauric acid and other acids, their salts and esters increased by 7.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate temperate growth. The pace of growth was the most pronounced in 2014 when imports increased by 171% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 200% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), South Africa (X tons) and Belgium (X tons) were the main suppliers of imports of lauric acid and other acids, their salts and esters to Ghana, together comprising 64% of total imports. Germany, Thailand, Senegal and the UK lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and South Africa ($X) constituted the largest lauric acid and other acids, their salts and esters suppliers to Ghana, with a combined 59% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +32.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, surging by 57% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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