Western Africa: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Western Africa

In 2021, the West African denatured ethyl alcohol market decreased by -16.9% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Denatured Ethyl Alcohol Production in Western Africa

In value terms, denatured ethyl alcohol production contracted notably to $X in 2021 estimated in export price. Overall, production showed a mild decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by 43% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Denatured Ethyl Alcohol Exports

Exports in Western Africa

For the third consecutive year, Western Africa recorded decline in overseas shipments of denatured ethyl alcohol and other denatured spirits, which decreased by -32.9% to X tons in 2021. Over the period under review, exports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 139% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, denatured ethyl alcohol exports dropped to $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 378% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal was the key exporting country with an export of around X tons, which accounted for 56% of total exports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Nigeria (X tons) and Togo (X tons), together mixing up a 43% share of total exports.

Exports from Senegal decreased at an average annual rate of -1.0% from 2012 to 2021. At the same time, Nigeria (+9.2%) and Ghana (+9.2%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +9.2% from 2012-2021. By contrast, Togo (-5.6%) and Cote d'Ivoire (-12.8%) illustrated a downward trend over the same period. Ghana (+13 p.p.), Nigeria (+4.6 p.p.) and Senegal (+4 p.p.) significantly strengthened its position in terms of the total exports, while Togo and Cote d'Ivoire saw its share reduced by -2.5% and -15.4% from 2012 to 2021, respectively.

In value terms, Senegal ($X) emerged as the largest denatured ethyl alcohol supplier in Western Africa, comprising 56% of total exports. The second position in the ranking was taken by Ghana ($X), with a 23% share of total exports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to +2.0%. In the other countries, the average annual rates were as follows: Ghana (+7.5% per year) and Cote d'Ivoire (-11.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, jumping by 33% against the previous year. Over the period under review, the export price recorded mild growth. The pace of growth was the most pronounced in 2015 when the export price increased by 100%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: 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 Togo (+7.0%), while the other leaders experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports in Western Africa

After four years of growth, supplies from abroad of denatured ethyl alcohol and other denatured spirits decreased by -33.1% to X tons in 2021. In general, imports recorded a mild downturn. The pace of growth was the most pronounced in 2017 with an increase of 51% against the previous year. The volume of import peaked at X tons in 2020, and then declined notably in the following year.

In value terms, denatured ethyl alcohol imports reduced to $X in 2021. Over the period under review, imports, however, saw a modest increase. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. The level of import peaked at $X in 2020, and then dropped in the following year.

Imports by Country

Nigeria represented the key importer of denatured ethyl alcohol and other denatured spirits in Western Africa, with the volume of imports finishing at X tons, which was near 84% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X tons), committing a 12% share of total imports. Burkina Faso (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to denatured ethyl alcohol imports into Nigeria stood at -2.4%. At the same time, Burkina Faso (+30.4%) and Cote d'Ivoire (+15.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +30.4% from 2012-2021. While the share of Cote d'Ivoire (+8.8 p.p.) and Burkina Faso (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-6.5 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported denatured ethyl alcohol and other denatured spirits in Western Africa, comprising 90% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +1.4%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+11.3% per year) and Burkina Faso (+28.6% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 32% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($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 (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :