Western Africa: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in Western Africa

The West African amine-function compounds market contracted slightly to $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Amine-Function Compounds Production in Western Africa

In value terms, amine-function compounds production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 17%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Amine-Function Compounds Exports

Exports in Western Africa

In 2021, amine-function compounds exports in Western Africa contracted significantly to X tons, dropping by -94.6% compared with the previous year's figure. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 10,663%. As a result, the exports reached the peak of X tons, and then reduced remarkably in the following year.

In value terms, amine-function compounds exports fell markedly to $X in 2021. Over the period under review, exports saw a sharp contraction. The pace of growth was the most pronounced in 2020 when exports increased by 760% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, accounting for X tons, which was approx. 97% of total exports in 2021. Sierra Leone (X kg) took a minor share of total exports.

Senegal was also the fastest-growing in terms of the amine-function compounds exports, with a CAGR of -8.2% from 2012 to 2021. Sierra Leone (-29.2%) illustrated a downward trend over the same period. While the share of Senegal (+44 p.p.) and Sierra Leone (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest amine-function compounds supplier in Western Africa, comprising 93% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 4.3% share of total exports.

In Senegal, amine-function compounds exports declined by an average annual rate of -14.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, rising by 343% against the previous year. In general, the export price, however, recorded a deep slump. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (-1.0%).

Amine-Function Compounds Imports

Imports in Western Africa

Amine-function compounds imports skyrocketed to X tons in 2021, with an increase of 39% compared with the previous year. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 103%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, amine-function compounds imports reduced rapidly to $X in 2021. Overall, imports showed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 77%. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of amine-function compounds, achieving 53% of total imports. Burkina Faso (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Gambia (6.4%) and Mali (6.2%). Senegal (X tons), Ghana (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to amine-function compounds imports into Nigeria stood at +30.1%. At the same time, Gambia (+77.1%), Burkina Faso (+71.6%), Mali (+22.9%), Niger (+9.3%), Senegal (+8.2%) and Ghana (+7.2%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +77.1% from 2012-2021. Burkina Faso (+20 p.p.), Nigeria (+13 p.p.) and Gambia (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Mali, Niger, Ghana and Senegal saw its share reduced by -1.6%, -8.4%, -11.8% and -12.1% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported amine-function compounds in Western Africa, comprising 41% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 19% share of total imports. It was followed by Niger, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +14.4%. In the other countries, the average annual rates were as follows: Burkina Faso (+45.5% per year) and Niger (+4.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, shrinking by -40.2% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the import price increased by 32% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Niger ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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