Western Africa: Cyclohexanone And Methylcyclohexanones Market 2024

Cyclohexanone And Methylcyclohexanones Market Size in Western Africa

In 2021, the West African cyclohexanone and methylcyclohexanones market increased by 31% to $X, rising for the fifth consecutive year after two years of decline. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +126.1% against 2016 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Cyclohexanone And Methylcyclohexanones Production in Western Africa

In value terms, cyclohexanone and methylcyclohexanones production contracted modestly to $X in 2021 estimated in export price. In general, production showed a sharp reduction. The growth pace was the most rapid in 2017 with an increase of 2,992% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cyclohexanone And Methylcyclohexanones Exports

Exports in Western Africa

In 2021, overseas shipments of cyclohexanone and methylcyclohexanones were finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. In general, exports, however, faced a deep setback. 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, cyclohexanone and methylcyclohexanones exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt slump. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) represented roughly 100% of total exports in 2021.

Cote d'Ivoire was also the fastest-growing in terms of the cyclohexanone and methylcyclohexanones exports, with a CAGR of -13.6% from 2012 to 2021. While the share of Cote d'Ivoire (+21 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest cyclohexanone and methylcyclohexanones supplier in Western Africa.

In Cote d'Ivoire, cyclohexanone and methylcyclohexanones exports shrank by an average annual rate of -8.8% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, which is down by -12.1% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cyclohexanone and methylcyclohexanones export price increased by +41.6% against 2014 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 15% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +5.5% per year.

Cyclohexanone And Methylcyclohexanones Imports

Imports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in supplies from abroad of cyclohexanone and methylcyclohexanones, which increased by 6% to X tons in 2021. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, cyclohexanone and methylcyclohexanones imports surged to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +142.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Cote d'Ivoire (X tons) was the major importer of cyclohexanone and methylcyclohexanones, generating 69% of total imports. It was distantly followed by Nigeria (X tons), constituting a 28% share of total imports. Guinea (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cyclohexanone and methylcyclohexanones imports into Cote d'Ivoire stood at +5.7%. At the same time, Guinea (+26.5%) and Nigeria (+5.2%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.5% from 2012-2021. Guinea (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported cyclohexanone and methylcyclohexanones in Western Africa, comprising 69% of total imports. The second position in the ranking was held by Nigeria ($X), with a 26% share of total imports.

In Cote d'Ivoire, cyclohexanone and methylcyclohexanones imports expanded at an average annual rate of +3.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+5.3% per year) and Guinea (+24.8% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, with an increase of 38% against the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guinea ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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