Western Africa: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Western Africa

The West African azo- or azoxy-compounds market rose markedly to $X in 2022, picking up by 7.8% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Azo- Or Azoxy-Compounds Production in Western Africa

In value terms, azo- or azoxy-compounds production contracted modestly to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 34% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Western Africa

In 2022, exports of diazo-, azo- or azoxy-compounds in Western Africa contracted to X tons, with a decrease of -8.1% compared with the year before. Overall, exports saw a slight decrease. The pace of growth appeared the most rapid in 2014 with an increase of 228%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, azo- or azoxy-compounds exports expanded modestly to $X in 2022. Over the period under review, exports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 244% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the main exporting country with an export of about X tons, which finished at 68% of total exports. It was distantly followed by Senegal (X tons), constituting a 32% share of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of diazo-, azo- or azoxy-compounds. Senegal (-4.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire increased by +8.7 percentage points.

In value terms, Cote d'Ivoire ($X) remains the largest azo- or azoxy-compounds supplier in Western Africa, comprising 69% of total exports. The second position in the ranking was taken by Senegal ($X), with a 31% share of total exports.

In Cote d'Ivoire, azo- or azoxy-compounds exports expanded at an average annual rate of +3.7% over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, surging by 12% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, azo- or azoxy-compounds export price decreased by -12.1% against 2020 indices. The growth pace was the most rapid in 2020 when the export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+6.4%).

Azo- Or Azoxy-Compounds Imports

Imports in Western Africa

In 2022, the amount of diazo-, azo- or azoxy-compounds imported in Western Africa soared to X tons, increasing by 33% compared with 2021 figures. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 105%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, azo- or azoxy-compounds imports surged to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.3% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 83%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria was the key importer of diazo-, azo- or azoxy-compounds in Western Africa, with the volume of imports resulting at X tons, which was near 83% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), generating a 13% share of total imports. Senegal (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to azo- or azoxy-compounds imports into Nigeria stood at +2.1%. At the same time, Senegal (+8.5%) and Cote d'Ivoire (+5.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +8.5% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by +2.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in Western Africa, comprising 82% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +2.7%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+6.0% per year) and Senegal (+5.8% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by -3.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 14%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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