Western Africa: Amino-Resin Market 2024

Amino-Resin Market Size in Western Africa

The West African amino-resin market skyrocketed to $X in 2022, rising by X% against the previous year. In general, consumption recorded a buoyant increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Amino-Resin Production in Western Africa

In value terms, amino-resin production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Amino-Resin Exports

Exports in Western Africa

In 2022, approx. X tons of amino-resins, phenolic resins and polyurethanes (in primary forms) were exported in Western Africa; falling by X% compared with the previous year. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, amino-resin exports fell notably to $X in 2022. Overall, exports saw a deep downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X tons), making up a X% share of total exports. The following exporters - Sierra Leone (X tons) and Benin (X tons) - each reached a X% share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Sierra Leone experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.), Benin (X p.p.) and Sierra Leone (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest amino-resin supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Sierra Leone, with an X% share.

In Cote d'Ivoire, amino-resin exports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Sierra Leone ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Amino-Resin Imports

Imports in Western Africa

For the sixth year in a row, Western Africa recorded growth in supplies from abroad of amino-resins, phenolic resins and polyurethanes (in primary forms), which increased by X% to X tons in 2022. In general, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, amino-resin imports soared to $X in 2022. Overall, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Ghana (X tons) and Togo (X tons). All these countries together held approx. X% share of total imports. Mauritania (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mauritania experienced a relatively flat trend pattern. While the share of Nigeria (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mauritania (X p.p.), Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported amino-resins, phenolic resins and polyurethanes (in primary forms) in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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