Western Africa: Carboxylic Acid Market 2025

Carboxylic Acid Market Size in Western Africa

In 2021, after five years of growth, there was significant decline in the West African carboxylic acid market, when its value decreased by -15.4% to $X. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.2% against 2015 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then declined sharply in the following year.

Carboxylic Acid Production in Western Africa

In value terms, carboxylic acid production declined to $X in 2021 estimated in export price. In general, production recorded a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 39% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Carboxylic Acid Exports

Exports in Western Africa

Carboxylic acid exports was estimated at X tons in 2021, standing approx. at the previous year's figure. In general, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 153%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, carboxylic acid exports expanded significantly to $X in 2021. Over the period under review, exports showed a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 91%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Mali (X tons) and Senegal (X tons) represented roughly 80% of total exports in 2021. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Ghana (X tons). All these countries together held near 18% share of total exports. Niger (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +45.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Mali ($X) and Ghana ($X) were the countries with the highest levels of exports in 2021, with a combined 80% share of total exports.

Mali, with a CAGR of +30.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by 14% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carboxylic acid export price decreased by -11.9% against 2019 indices. The pace of growth was the most pronounced in 2013 when the export price increased by 52% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 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, the country with the highest price was Ghana ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+13.7%), while the other leaders experienced mixed trends in the export price figures.

Carboxylic Acid Imports

Imports in Western Africa

In 2021, carboxylic acid imports in Western Africa contracted remarkably to X tons, waning by -70.6% on the previous year's figure. Overall, imports, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2020 when imports increased by 165% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, carboxylic acid imports fell notably to $X in 2021. In general, imports showed a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 175%. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, creating 62% of total imports. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Ghana (X tons), Senegal (X tons) and Togo (X tons). All these countries together took near 33% share of total imports. Mauritania (X tons) took a minor share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions. At the same time, Mauritania (+21.8%), Cote d'Ivoire (+12.3%), Senegal (+8.0%), Ghana (+7.0%) and Togo (+5.4%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +21.8% from 2012-2021. Cote d'Ivoire (+7.8 p.p.), Ghana (+2.5 p.p.) and Senegal (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -16.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported carboxylic acid with alcohol, phenol, aldehyde or ketone functions in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 23% share of total imports. It was followed by Ghana, with an 8% share.

In Nigeria, carboxylic acid imports declined by an average annual rate of -8.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+11.0% per year) and Ghana (+3.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, jumping by 26% against the previous year. In general, the import price, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2019 an increase of 33% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Togo ($X per ton), while Nigeria ($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 (+5.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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