Western Africa: Basic Dye Market 2024

Basic Dye Market Size in Western Africa

The West African basic dye market expanded markedly to $X in 2021, increasing by 5.4% against the previous year. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Basic Dye Production in Western Africa

In value terms, basic dye production rose rapidly to $X in 2021 estimated in export price. Overall, production recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 34% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Basic Dye Exports

Exports in Western Africa

In 2021, overseas shipments of basic dyes and preparations based thereon increased by 215% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 218%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, basic dye exports soared to $X in 2021. In general, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Niger was the main exporter of basic dyes and preparations based thereon in Western Africa, with the volume of exports recording X tons, which was approx. 63% of total exports in 2021. Nigeria (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (5.6%) and Ghana (4.9%). Togo (X kg) took a relatively small share of total exports.

Niger was also the fastest-growing in terms of the basic dyes and preparations based thereon exports, with a CAGR of +185.7% from 2012 to 2021. At the same time, Nigeria (+34.2%), Ghana (+30.9%) and Senegal (+6.1%) displayed positive paces of growth. By contrast, Togo (-25.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger, Nigeria and Ghana increased by +63, +19 and +4 percentage points, respectively.

In value terms, Niger ($X) emerged as the largest basic dye supplier in Western Africa, comprising 78% of total exports. The second position in the ranking was held by Togo ($X), with an 11% share of total exports. It was followed by Nigeria, with a 7.6% share.

In Niger, basic dye exports increased at an average annual rate of +274.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+0.7% per year) and Nigeria (+41.4% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with an increase of 76% against the previous year. In general, the export price recorded a remarkable increase. The growth pace was the most rapid in 2018 when the export price increased by 201%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+34.8%), while the other leaders experienced more modest paces of growth.

Basic Dye Imports

Imports in Western Africa

In 2021, approx. X tons of basic dyes and preparations based thereon were imported in Western Africa; growing by 4.6% on 2020. Overall, imports showed a tangible expansion. The most prominent rate of growth was recorded in 2015 with an increase of 41%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, basic dye imports reduced slightly to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.1% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 54%. Over the period under review, imports reached the peak figure at $X in 2020, and then shrank in the following year.

Imports by Country

Nigeria dominates imports structure, recording X tons, which was approx. 81% of total imports in 2021. Mali (X tons) took a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (5.5%). Cote d'Ivoire (X tons) and Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to basic dye imports into Nigeria stood at +4.3%. At the same time, Gambia (+79.8%), Mali (+18.3%) and Cote d'Ivoire (+1.2%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +79.8% from 2012-2021. By contrast, Ghana (-9.2%) illustrated a downward trend over the same period. While the share of Nigeria (+9.8 p.p.), Mali (+4.8 p.p.) and Gambia (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported basic dyes and preparations based thereon in Western Africa, comprising 73% of total imports. The second position in the ranking was held by Mali ($X), with an 8.3% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +6.6%. In the other countries, the average annual rates were as follows: Mali (+22.4% per year) and Cote d'Ivoire (+9.7% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, waning by -4.4% against the previous year. Import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, basic dye import price increased by +5.9% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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