Ghana: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Ghana

The Ghanian unsaturated acyclic hydrocarbons market totaled $X in 2021, picking up by 8.2% against the previous year. Overall, consumption, however, showed a noticeable downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Unsaturated Acyclic Hydrocarbons Production in Ghana

In value terms, unsaturated acyclic hydrocarbons production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Ghana

For the fourth year in a row, Ghana recorded decline in overseas shipments of unsaturated acyclic hydrocarbons, which decreased by -9.3% to X kg in 2021. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 212%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, unsaturated acyclic hydrocarbons exports contracted to $X in 2021. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 271% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X kg) was the main destination for unsaturated acyclic hydrocarbons exports from Ghana, accounting for a 86% share of total exports. Moreover, unsaturated acyclic hydrocarbons exports to Togo exceeded the volume sent to the second major destination, Benin (X kg), sixfold.

From 2013 to 2021, the average annual growth rate of volume to Togo amounted to +11.2%.

In value terms, the largest markets for unsaturated acyclic hydrocarbons exported from Ghana were Togo ($X) and Benin ($X).

Benin, with a CAGR of +0.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average unsaturated acyclic hydrocarbons export price amounted to $X per ton, increasing by 3.1% against the previous year. In general, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 19%. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Togo amounted to $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+370.6%), while the prices for the other major destinations experienced mixed trend patterns.

Unsaturated Acyclic Hydrocarbons Imports

Imports into Ghana

In 2021, after three years of decline, there was significant growth in supplies from abroad of unsaturated acyclic hydrocarbons, when their volume increased by 626% to X tons. In general, imports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,506%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons imports soared to $X in 2021. Overall, imports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 1,849% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest unsaturated acyclic hydrocarbons supplier to Ghana, with a 75% share of total imports. Moreover, unsaturated acyclic hydrocarbons imports from the Netherlands exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. China (X kg) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to -12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+61.4% per year) and China (-6.7% per year).

In value terms, the largest unsaturated acyclic hydrocarbons suppliers to Ghana were the Netherlands ($X), India ($X) and China ($X), with a combined 85% share of total imports.

India, with a CAGR of +55.9%, saw the highest rates of growth with regard to the value of imports, among 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 unsaturated acyclic hydrocarbons import price amounted to $X per ton, with an increase of 12% against the previous year. In general, the import price enjoyed a measured increase. The growth pace was the most rapid in 2016 an increase of 32% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

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 China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+33.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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