Report Update Nov 1, 2024

Western Africa - Benzene - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Western Africa: Benzene Market 2024

Benzene Market Size in Western Africa

The West African benzene market dropped modestly to $X in 2022, with a decrease of -2% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.8% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Benzene Production in Western Africa

In value terms, benzene production contracted slightly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.3% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 43%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Benzene Exports

Exports in Western Africa

Benzene exports soared to X tons in 2022, jumping by 32% against the previous year's figure. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 103,892% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, benzene exports skyrocketed to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 60,553% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Ghana (X tons), together recording 100% of total export.

Ghana was also the fastest-growing in terms of the benzene exports, with a CAGR of +22.9% from 2013 to 2022. From 2013 to 2022, the share of Ghana increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest benzene supplier in Western Africa.

From 2013 to 2022, the average annual rate of growth in terms of value in Ghana stood at -2.6%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by 28% against the previous year. In general, the export price, however, showed a deep reduction. The pace of growth appeared the most rapid in 2016 when the export price increased by 320% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2013 to 2022, the rate of growth in terms of prices for Ghana amounted to -20.8% per year.

Benzene Imports

Imports in Western Africa

In 2022, purchases abroad of benzene decreased by -32.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, posted a significant increase. The growth pace was the most rapid in 2015 with an increase of 2,145%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, benzene imports shrank significantly to $X in 2022. In general, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 when imports increased by 1,091% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. 97% of total imports in 2022. Togo (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to benzene imports into Nigeria stood at +30.7%. At the same time, Togo (+44.6%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +44.6% from 2012-2022. From 2012 to 2022, the share of Togo increased by +3.4 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported benzene in Western Africa, comprising 98% of total imports. The second position in the ranking was held by Togo ($X), with a 1.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +15.9%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price, however, faced a deep reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by 20%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Togo amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-2.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzene in Western Africa?

The countries with the highest volumes of in 2021 were Niger, Cote d'Ivoire and Burkina Faso, with a combined 51% share of total consumption. These countries were followed by Ghana, Guinea, Benin and Sierra Leone, which together accounted for a further 43%.

What are the largest producers of benzene in Western Africa?

The countries with the highest volumes of in 2021 were Niger, Cote d'Ivoire and Burkina Faso, with a combined 51% share of total production. These countries were followed by Ghana, Guinea, Benin and Sierra Leone, which together accounted for a further 43%.

What are the leading suppliers of benzene in Western Africa?

In value terms, Ghana remains the largest benzene supplier in Western Africa.

What are the leading importers of benzene in Western Africa?

In value terms, Nigeria constitutes the largest market for imported benzene in Western Africa.

What is the average export price for benzene in Western Africa?

The export price in Western Africa stood at $448 per ton in 2020, with a decrease of -4.1% against the previous year.

What is the average import price for benzene in Western Africa?

The import price in Western Africa stood at $483 per ton in 2021, surging by 4.6% against the previous year.

This report provides an in-depth analysis of the benzene market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20141223 - Benzene

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023