Western Africa: Amino Resin Market 2025

Amino Resin Market Size in Western Africa

The West African amino resin market totaled $X in 2022, picking up by 6.9% against the previous year. Over the period under review, consumption saw a resilient expansion. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Amino Resin Production in Western Africa

In value terms, amino resin production reached $X in 2022 estimated in export price. Overall, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Amino Resin Exports

Exports in Western Africa

Amino resin exports surged to X tons in 2022, rising by 101% compared with 2021. Overall, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 1,573% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, amino resin exports skyrocketed to $X in 2022. In general, exports, however, faced a abrupt descent. The growth pace was the most rapid in 2020 when exports increased by 226%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Benin represented the largest exporter of amino resins in Western Africa, with the volume of exports finishing at X tons, which was near 66% of total exports in 2022. Ghana (X tons) held the second position in the ranking, distantly followed by Cote d'Ivoire (X kg). All these countries together held approx. 34% share of total exports.

Benin experienced a relatively flat trend pattern with regard to volume of exports of amino resins. Cote d'Ivoire (-10.8%) and Ghana (-21.4%) illustrated a downward trend over the same period. Benin (+66 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -65.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Benin ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

Benin, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by -15.1% against the previous year. In general, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by 271% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.9%).

Amino Resin Imports

Imports in Western Africa

In 2022, amino resin imports in Western Africa skyrocketed to X tons, growing by 52% against the year before. Over the period under review, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, amino resin imports skyrocketed to $X in 2022. In general, imports posted a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) represented the key importer of amino resins, constituting 63% of total imports. Mauritania (X tons) ranks second in terms of the total imports with a 19% share, followed by Ghana (11%). The following importers - Niger (X tons) and Cote d'Ivoire (X tons) - together made up 5.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to amino resin imports into Nigeria stood at +46.2%. At the same time, Niger (+89.5%), Ghana (+8.0%) and Mauritania (+5.4%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +89.5% from 2012-2022. By contrast, Cote d'Ivoire (-5.1%) illustrated a downward trend over the same period. Nigeria (+57 p.p.) and Niger (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Ghana, Cote d'Ivoire and Mauritania saw its share reduced by -9.6%, -12.1% and -26.2% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported amino resins in Western Africa, comprising 69% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Niger, with a 7.6% share.

In Nigeria, amino resin imports expanded at an average annual rate of +42.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+6.6% per year) and Niger (+59.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by 38% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +76.1% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Niger ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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