Western Africa: Dichloromethane Market 2024

Dichloromethane Market Size in Western Africa

After three years of growth, the West African dichloromethane market decreased by -19.2% to $X in 2021. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Dichloromethane Production in Western Africa

In value terms, dichloromethane production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep contraction. The growth pace was the most rapid in 2013 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Dichloromethane Exports

Exports in Western Africa

For the fifth year in a row, Western Africa recorded decline in overseas shipments of dichloromethane (methylene chloride), which decreased by -13.1% to X tons in 2021. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 302% 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, dichloromethane exports dropped remarkably to $X in 2021. Overall, exports faced a dramatic decline. The pace of growth appeared the most rapid in 2016 when exports increased by 342% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria represented the main exporter of dichloromethane (methylene chloride) in Western Africa, with the volume of exports recording X tons, which was approx. 58% of total exports in 2021. Ghana (X tons) ranks second in terms of the total exports with a 34% share, followed by Togo (7.2%).

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +10.4%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest dichloromethane supplying countries in Western Africa were Ghana ($X), Nigeria ($X) and Togo ($X), together comprising 99% of total exports.

Nigeria, with a CAGR of +6.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with a decrease of -3.6% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2018 an increase of 28%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Dichloromethane Imports

Imports in Western Africa

After five years of growth, overseas purchases of dichloromethane (methylene chloride) decreased by -36.2% to X tons in 2021. In general, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 60%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, dichloromethane imports shrank slightly to $X in 2021. Overall, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 61%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was approx. 69% of total imports in 2021. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Ghana (X tons). All these countries together held approx. 14% share of total imports. Burkina Faso (X tons), Togo (X tons), Senegal (X tons) and Guinea (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to dichloromethane imports into Nigeria stood at +4.5%. At the same time, Ghana (+25.8%), Togo (+24.4%), Burkina Faso (+18.4%), Guinea (+13.1%), Cote d'Ivoire (+11.3%) and Senegal (+6.7%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +25.8% from 2012-2021. From 2012 to 2021, the share of Ghana, Togo, Cote d'Ivoire and Burkina Faso increased by +4.8, +2.7, +2.7 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported dichloromethane (methylene chloride) in Western Africa, comprising 73% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 6.9% share of total imports. It was followed by Ghana, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +7.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+9.5% per year) and Ghana (+27.6% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, growing by 53% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dichloromethane import price increased by +34.4% against 2018 indices. As a result, import price reached 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 (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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