Ghana: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Ghana

The Ghanian propyl and isopropyl alcohol market rose rapidly to $X in 2022, increasing by 7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed tangible growth. Propyl and isopropyl alcohol consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Ghana

In 2022, approx. X tons of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) were exported from Ghana; surging by 5.9% compared with the previous year. In general, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of 103%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports declined slightly to $X in 2022. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 128% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

Burkina Faso (X tons) was the main destination for propyl and isopropyl alcohol exports from Ghana, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso totaled -1.8%.

In value terms, Burkina Faso ($X) also remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Ghana.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso amounted to +14.1%.

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, falling by -5.8% against the previous year. Overall, the export price, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 144% against the previous year. The export price peaked at $X per ton in 2021, and then contracted in the following year.

As there is only one major export destination, the average price level is determined by prices for Burkina Faso.

From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to +16.2% per year.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Ghana

In 2022, imports of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) into Ghana stood at X tons, with an increase of 9.4% on the year before. In general, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 351% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports rose sharply to $X in 2022. Over the period under review, imports continue to indicate tangible growth. The pace of growth was the most pronounced in 2017 with an increase of 315%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, South Africa (X tons) constituted the largest supplier of propyl and isopropyl alcohol to Ghana, accounting for a 75% share of total imports. Moreover, propyl and isopropyl alcohol imports from South Africa exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.4% per year) and China (+37.2% per year).

In value terms, South Africa ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Ghana, comprising 70% of total imports. The second position in the ranking was held by India ($X), with an 8.9% share of total imports. It was followed by China, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from South Africa stood at +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.8% per year) and China (+35.8% per year).

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, shrinking by -2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Africa ($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 Netherlands (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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