Western Africa: Colour Lake Market 2024

Colour Lake Market Size in Western Africa

The West African colour lake market contracted to $X in 2021, shrinking by -5.8% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Colour Lake Production in Western Africa

In value terms, colour lake production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Colour Lake Exports

Exports in Western Africa

In 2021, overseas shipments of colour lakes, preparations based on colour lakes increased by 3.3% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports, however, showed a mild setback. The growth pace was the most rapid in 2014 with an increase of 121% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, colour lake exports stood at $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 125% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, reaching X tons, which was near 92% of total exports in 2021. It was distantly followed by Mali (X tons), constituting a 7.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to colour lake exports from Cote d'Ivoire stood at -2.6%. At the same time, Mali (+35.9%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +35.9% from 2012-2021. Mali (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -6.7% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest colour lake supplier in Western Africa, comprising 76% of total exports. The second position in the ranking was taken by Mali ($X), with a 24% share of total exports.

In Cote d'Ivoire, colour lake exports decreased by an average annual rate of -3.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2016 an increase of 32%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+19.6%).

Colour Lake Imports

Imports in Western Africa

In 2021, supplies from abroad of colour lakes, preparations based on colour lakes decreased by -36.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 75% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, colour lake imports shrank markedly to $X in 2021. In general, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 92%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire (X tons), Mali (X tons) and Nigeria (X tons) represented roughly 84% of total imports in 2021. It was distantly followed by Ghana (X tons), achieving a 6.8% share of total imports. Mauritania (X tons), Togo (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +29.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest colour lake importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together accounting for 73% of total imports.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, falling by -12.7% against the previous year. Import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, colour lake import price decreased by -22.4% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 90%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, 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 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 Nigeria (+14.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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