Western Africa: Market for Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) 2024

Market Size for Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) in Western Africa

In 2021, after six years of growth, there was significant decline in the West African cyclanes, cyclenes and cycloterpenes market, when its value decreased by -5.9% to $X. Overall, consumption, however, posted a prominent increase. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.

Production of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane) in Western Africa

In value terms, cyclanes, cyclenes and cycloterpenes production contracted to $X in 2021 estimated in export price. In general, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48%. Over the period under review, production reached the maximum level at $X in 2020, and then dropped in the following year.

Exports of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane)

Exports in Western Africa

In 2021, cyclanes, cyclenes and cycloterpenes exports in Western Africa declined to X tons, waning by -8.5% compared with the previous year. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 41,427% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cyclanes, cyclenes and cycloterpenes exports reduced modestly to $X in 2021. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 24,639%. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

The shipments of the one major exporters of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane), namely Nigeria, represented more than two-thirds of total export.

Nigeria was also the fastest-growing in terms of the cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) exports, with a CAGR of +13.6% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +84 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest cyclanes, cyclenes and cycloterpenes supplier in Western Africa.

In Nigeria, cyclanes, cyclenes and cycloterpenes exports increased at an average annual rate of +24.7% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, surging by 8.2% against the previous year. Overall, the export price saw a significant increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 72%. The level of export peaked at $X per ton in 2016; however, from 2017 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 Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +9.8% per year.

Imports of Cyclanes, Cyclenes And Cycloterpenes (Excluding Cyclohexane)

Imports in Western Africa

After two years of growth, purchases abroad of cyclanes, cyclenes and cycloterpenes (excluding cyclohexane) decreased by -23.4% to X tons in 2021. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2014 when imports increased by 45% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, cyclanes, cyclenes and cycloterpenes imports shrank rapidly to $X in 2021. In general, imports saw a noticeable decline. The pace of growth was the most pronounced in 2014 when imports increased by 69%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Togo was the largest importing country with an import of about X tons, which amounted to 57% of total imports. Nigeria (X tons) held a 30% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (6.3%). Cote d'Ivoire (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 key importing countries, was attained by Ghana (with a CAGR of +36.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, together comprising 91% of total imports. Ghana lagged somewhat behind, accounting for a further 6%.

Among the main importing countries, Ghana, with a CAGR of +37.8%, recorded the highest growth rate of 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

The import price in Western Africa stood at $X per ton in 2021, waning by -8.8% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($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 (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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