Ghana: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Ghana

The Ghanian aromatic hydrocarbon mixtures market expanded slightly to $X in 2022, with an increase of 3.1% against the previous year. Overall, consumption, however, showed a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Aromatic Hydrocarbon Mixtures Production in Ghana

In value terms, aromatic hydrocarbon mixtures production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 44% against the previous year. Aromatic hydrocarbon mixtures production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports from Ghana

For the third year in a row, Ghana recorded decline in overseas shipments of naphthalene and other aromatic hydrocarbon mixtures, which decreased by -19.6% to X tons in 2022. Over the period under review, exports showed a sharp downturn. The growth pace was the most rapid in 2013 with an increase of 59%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures exports shrank significantly to $X in 2022. Overall, exports continue to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 99% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for aromatic hydrocarbon mixtures exports from Ghana, accounting for a approx. 75% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire totaled -30.6%.

In value terms, Cote d'Ivoire ($X) also remains the key foreign market for naphthalene and other aromatic hydrocarbon mixtures exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to Cote d'Ivoire amounted to -29.0%.

Export Prices by Country

The average aromatic hydrocarbon mixtures export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when the average export price increased by 137% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to +2.3% per year.

Aromatic Hydrocarbon Mixtures Imports

Imports into Ghana

For the third year in a row, Ghana recorded growth in supplies from abroad of naphthalene and other aromatic hydrocarbon mixtures, which increased by 12% to X tons in 2022. Overall, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when imports increased by 782%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures imports soared to $X in 2022. Over the period under review, imports recorded resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 685%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest supplier of aromatic hydrocarbon mixtures to Ghana, with a 54% share of total imports. Moreover, aromatic hydrocarbon mixtures imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.0% per year) and South Korea (-1.4% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of naphthalene and other aromatic hydrocarbon mixtures to Ghana, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by South Korea, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+29.4% per year) and South Korea (+4.7% per year).

Import Prices by Country

The average aromatic hydrocarbon mixtures import price stood at $X per ton in 2022, rising by 5.6% against the previous year. Over the period under review, the import price posted a strong increase. The growth pace was the most rapid in 2020 when the average import price increased by 57%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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