Western Africa: Fluoropolymers Market 2024

Fluoropolymers Market Size in Western Africa

The West African fluoropolymers market totaled $X in 2021, surging by 3.6% against the previous year. In general, consumption saw a tangible increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Fluoropolymers Production in Western Africa

In value terms, fluoropolymers production totaled $X in 2021 estimated in export price. Over the period under review, production showed a temperate expansion. The pace of growth appeared the most rapid in 2016 with an increase of 63%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Fluoropolymers Exports

Exports in Western Africa

Fluoropolymers exports declined dramatically to X tons in 2021, dropping by -30% on the year before. Over the period under review, exports, however, saw resilient growth. The growth pace was the most rapid in 2017 with an increase of 211%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, fluoropolymers exports reduced slightly to $X in 2021. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2017 with an increase of 90% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Niger represented the main exporting country with an export of around X tons, which accounted for 84% of total exports. It was distantly followed by Nigeria (X kg), committing a 16% share of total exports.

Niger was also the fastest-growing in terms of the fluoropolymers exports, with a CAGR of +9.1% from 2012 to 2021. At the same time, Nigeria (+1.9%) displayed positive paces of growth. Niger (+12 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -9.7% from 2012 to 2021, respectively.

In value terms, Niger ($X) remains the largest fluoropolymers supplier in Western Africa, comprising 93% of total exports. The second position in the ranking was held by Nigeria ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Niger stood at +17.2%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, increasing by 37% against the previous year. In general, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 49%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+7.5%).

Fluoropolymers Imports

Imports in Western Africa

In 2021, purchases abroad of fluoropolymers decreased by -11.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 117% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, fluoropolymers imports dropped to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +44.1% against 2016 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Togo dominates imports structure, reaching X tons, which was approx. 69% of total imports in 2021. Nigeria (X tons) took the second position in the ranking, followed by Niger (X tons) and Ghana (X tons). All these countries together held near 26% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Togo increased at an average annual rate of +37.3% from 2012 to 2021. At the same time, Nigeria (+62.8%), Ghana (+48.0%) and Cote d'Ivoire (+19.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +62.8% from 2012-2021. By contrast, Niger (-17.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Togo, Nigeria, Ghana and Cote d'Ivoire increased by +62, +9, +7.8 and +2.5 percentage points, respectively.

In value terms, the largest fluoropolymers importing markets in Western Africa were Niger ($X), Ghana ($X) and Togo ($X), together accounting for 70% of total imports. These countries were followed by Nigeria and Cote d'Ivoire, which together accounted for a further 28%.

Nigeria, with a CAGR of +53.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, with an increase of 6.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 96% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

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 Niger ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+19.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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