Western Africa: Insecticide Market 2024

Insecticide Market Size in Western Africa

In 2021, after two years of growth, there was decline in the West African insecticide market, when its value decreased by -2.1% to $X. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.1% against 2012 indices. Over the period under review, the market reached the peak level at $X in 2020, and then declined modestly in the following year.

Insecticide Production in Western Africa

In value terms, insecticide production soared to $X in 2021 estimated in export price. In general, production enjoyed significant growth. The growth pace was the most rapid in 2014 when the production volume increased by 390%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Insecticide Exports

Exports in Western Africa

In 2021, the amount of insecticides exported in Western Africa soared to X tons, jumping by 197% on 2020. Over the period under review, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, insecticide exports shrank dramatically to $X in 2021. In general, exports recorded a notable expansion. The pace of growth appeared the most rapid in 2017 with an increase of 98% against the previous year. The level of export peaked at $X in 2020, and then contracted significantly in the following year.

Exports by Country

Nigeria prevails in exports structure, finishing at X tons, which was approx. 85% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), mixing up a 5.9% share of total exports. Senegal (X tons), Niger (X tons) and Benin (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to insecticide exports from Nigeria stood at +17.2%. At the same time, Benin (+80.0%) and Niger (+2.1%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +80.0% from 2012-2021. By contrast, Cote d'Ivoire (-5.2%) and Senegal (-8.6%) illustrated a downward trend over the same period. Nigeria (+41 p.p.) and Benin (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Niger, Senegal and Cote d'Ivoire saw its share reduced by -2%, -12.3% and -14.5% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) emerged as the largest insecticide supplier in Western Africa, comprising 62% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 23% share of total exports. It was followed by Niger, with a 6.9% share.

In Nigeria, insecticide exports increased at an average annual rate of +8.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-1.0% per year) and Niger (+9.8% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, waning by -75.8% against the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 an increase of 106%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($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 (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Insecticide Imports

Imports in Western Africa

In 2021, insecticide imports in Western Africa declined to X tons, reducing by -10.4% on 2020. In general, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2017 with an increase of 46%. Over the period under review, imports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, insecticide imports reduced to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +7.1% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 41% against the previous year. The level of import peaked at $X in 2020, and then contracted in the following year.

Imports by Country

The purchases of the three major importers of insecticides, namely Nigeria, Ghana and Cote d'Ivoire, represented more than two-thirds of total import. It was distantly followed by Togo (X tons), achieving a 5.1% share of total imports. The following importers - Senegal (X tons), Burkina Faso (X tons) and Guinea (X tons) - each amounted to an 8.7% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +17.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, with a combined 83% share of total imports. These countries were followed by Burkina Faso, Senegal, Guinea and Togo, which together accounted for a further 9.5%.

Togo, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2021, the import price in Western Africa amounted to $X per ton, surging by 4.8% against the previous year. Overall, the import price, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2019 an increase of 8.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Burkina Faso ($X per ton), while Togo ($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 (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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