Report Update Nov 1, 2024

Western Africa - Linseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Linseed Oil Market 2024

Linseed Oil Market Size in Western Africa

The West African linseed oil market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a mild setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Production in Western Africa

In value terms, linseed oil production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Linseed Oil Exports

Exports in Western Africa

After two years of decline, shipments abroad of linseed oil increased by 42% to X tons in 2022. Overall, exports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 234%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, linseed oil exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by 169% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Sierra Leone (X tons) and Gambia (X tons), together finishing at 98% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of +10.6%).

In value terms, Sierra Leone ($X) and Gambia ($X) were the countries with the highest levels of exports in 2022.

Among the main exporting countries, Sierra Leone, with a CAGR of +17.0%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by -9.5% against the previous year. Overall, the export price saw a noticeable setback. The growth pace was the most rapid in 2016 when the export price increased by 112%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Gambia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+5.8%).

Linseed Oil Imports

Imports in Western Africa

In 2022, supplies from abroad of linseed oil was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a slight decline. The growth pace was the most rapid in 2019 when imports increased by 70%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, linseed oil imports amounted to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 62%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Gambia dominates imports structure, amounting to X tons, which was near 97% of total imports in 2022. Guinea-Bissau (X tons) followed a long way behind the leaders.

Imports into Gambia increased at an average annual rate of +2.1% from 2012 to 2022. At the same time, Guinea-Bissau (+23.2%) displayed positive paces of growth. Moreover, Guinea-Bissau emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.2% from 2012-2022. Gambia (+25 p.p.) and Guinea-Bissau (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) constitutes the largest market for imported linseed oil in Western Africa, comprising 95% of total imports. The second position in the ranking was taken by Guinea-Bissau ($X), with a 1.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Gambia totaled +1.9%.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by -4.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Gambia ($X per ton), while Guinea-Bissau stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (-0.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for linseed oil in Western Africa?

The country with the largest volume of linseed oil consumption was Gambia, accounting for 96% of total volume. It was followed by Guinea-Bissau, with a 2.9% share of total consumption.

What are the largest producers of linseed oil in Western Africa?

The countries with the highest volumes of linseed oil production in 2021 were Guinea, Ghana and Guinea-Bissau, with a combined 100% share of total production.

What are the leading exporters of linseed oil in Western Africa?

In value terms, Gambia remains the largest linseed oil supplier in Western Africa.

What are the leading importers of linseed oil in Western Africa?

In value terms, Gambia constitutes the largest market for imported linseed oil in Western Africa, comprising 97% of total imports. The second position in the ranking was occupied by Guinea-Bissau, with a 2.2% share of total imports.

What is the average export price for linseed oil in Western Africa?

In 2021, the linseed oil export price in Western Africa amounted to $582 per ton, increasing by 62% against the previous year.

What is the average import price for linseed oil in Western Africa?

The linseed oil import price in Western Africa stood at $421 per ton in 2021, approximately mirroring the previous year.

This report provides an in-depth analysis of the linseed oil market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 334 - Oil of Linseed

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023