Western Africa: Biodiesel Market 2025

Biodiesel Market Size in Western Africa

In 2021, the West African biodiesel market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Biodiesel Production in Western Africa

In value terms, biodiesel production totaled $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +50.0% against 2016 indices. The growth pace was the most rapid in 2017 when the production volume increased by 25% against the previous year. Over the period under review, production attained the maximum level in 2021 and is expected to retain growth in the near future.

Biodiesel Exports

Exports in Western Africa

Biodiesel exports amounted to X kg in 2021, remaining constant against 2020 figures. In general, exports continue to indicate a strong increase. The growth pace was the most rapid in 2014 with an increase of 971% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, biodiesel exports stood at $X in 2021. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 1,556% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -68.8% against the previous year. Overall, the export price, however, saw prominent growth. The pace of growth was the most pronounced in 2017 when the export price increased by 139% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices failed to regain momentum.

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

From 2013 to 2021, the rate of growth in terms of prices for Togo amounted to 0.0% per year.

Biodiesel Imports

Imports in Western Africa

In 2021, after two years of decline, there was significant growth in supplies from abroad of biodiesel, when their volume increased by 36% to X tons. In general, imports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 40%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, biodiesel imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt decline. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire (X tons) and Nigeria (X tons) were the main importers of biodiesel in 2021, reaching approx. 33% and 33% of total imports, respectively. Benin (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (8.5%). The following importers - Mauritania (X tons) and Liberia (X tons) - together made up 5.8% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +67.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported biodiesel in Western Africa, comprising 50% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports. It was followed by Ghana, with a 14% share.

In Nigeria, biodiesel imports increased at an average annual rate of +70.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-14.5% per year) and Ghana (+47.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, picking up by 10% against the previous year. Overall, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the import price increased by 23% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+17.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform