Western Africa: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in Western Africa

The West African halogenated hydrocarbon derivative market was estimated at $X in 2022, growing by 3.9% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -14.2% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Halogenated Hydrocarbon Derivative Production in Western Africa

In value terms, halogenated hydrocarbon derivative production expanded significantly to $X in 2022 estimated in export price. In general, production enjoyed a strong increase. The growth pace was the most rapid in 2020 when the production volume increased by 35%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Halogenated Hydrocarbon Derivative Exports

Exports in Western Africa

In 2022, the amount of halogenated derivatives of hydrocarbons exported in Western Africa dropped sharply to X tons, with a decrease of -40.1% against the year before. Overall, exports recorded a noticeable slump. The pace of growth was the most pronounced in 2013 when exports increased by 370%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, halogenated hydrocarbon derivative exports shrank remarkably to $X in 2022. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2013 when exports increased by 203% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) was the main exporter of halogenated derivatives of hydrocarbons, generating 46% of total exports. Mauritania (X tons) ranks second in terms of the total exports with a 22% share, followed by Cote d'Ivoire (14%) and Ghana (7.9%). The following exporters - Togo (X kg), Senegal (X kg) and Burkina Faso (X kg) - together made up 9.6% of total exports.

From 2012 to 2022, average annual rates of growth with regard to halogenated hydrocarbon derivative exports from Nigeria stood at +8.7%. At the same time, Mauritania (+32.2%) and Ghana (+1.1%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +32.2% from 2012-2022. By contrast, Cote d'Ivoire (-3.6%), Burkina Faso (-11.8%), Senegal (-14.4%) and Togo (-23.8%) illustrated a downward trend over the same period. While the share of Nigeria (+33 p.p.), Mauritania (+21 p.p.) and Ghana (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Burkina Faso (-3.5 p.p.), Senegal (-6.6 p.p.) and Togo (-36.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest halogenated hydrocarbon derivative supplier in Western Africa, comprising 46% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 23% share of total exports. It was followed by Togo, with a 6.2% share.

In Cote d'Ivoire, halogenated hydrocarbon derivative exports increased at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (-3.0% per year) and Togo (-15.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with an increase of 17% against the previous year. In general, the export price, however, showed a mild reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 104% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+11.5%), while the other leaders experienced more modest paces of growth.

Halogenated Hydrocarbon Derivative Imports

Imports in Western Africa

In 2022, supplies from abroad of halogenated derivatives of hydrocarbons decreased by -1.2% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.4% 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 -36.0% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 37% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, halogenated hydrocarbon derivative imports stood at $X in 2022. Total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.7% against 2017 indices. The pace of growth appeared the most rapid in 2016 with an increase of 40% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was near 66% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Senegal (X tons), together comprising a 22% share of total imports. The following importers - Guinea (X tons), Togo (X tons) and Liberia (X tons) - each finished at a 6.2% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of halogenated derivatives of hydrocarbons. At the same time, Togo (+20.9%), Guinea (+12.7%), Senegal (+10.4%), Liberia (+9.1%), Cote d'Ivoire (+5.9%) and Ghana (+1.1%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.9% from 2012-2022. Cote d'Ivoire (+3.5 p.p.), Senegal (+2.7 p.p.) and Togo (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -11.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported halogenated derivatives of hydrocarbons in Western Africa, comprising 63% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +2.6%. In the other countries, the average annual rates were as follows: Ghana (+8.5% per year) and Cote d'Ivoire (+2.7% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, growing by 16% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, halogenated hydrocarbon derivative import price increased by +81.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 51% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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