Western Africa: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in Western Africa

In 2022, the West African m-xylene and xylenes market decreased by -38.5% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption recorded a abrupt slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

M-Xylene And Xylenes Production in Western Africa

In value terms, m-xylene and xylenes production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a drastic downturn. The growth pace was the most rapid in 2020 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

M-Xylene And Xylenes Exports

Exports in Western Africa

In 2022, overseas shipments of m-xylene and mixed xylene isomers increased by 14% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 3,050%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, m-xylene and xylenes exports expanded notably to $X in 2022. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 9,135% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, finishing at X tons, which was approx. 97% of total exports in 2022. Niger (X kg) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the m-xylene and mixed xylene isomers exports, with a CAGR of +20.0% from 2012 to 2022. Niger (-63.7%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+96 p.p.) and Niger (+2.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest m-xylene and xylenes supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was taken by Niger ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at +41.8%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by -5.8% against the previous year. Over the period under review, the export price, however, showed a slight increase. The pace of growth was the most pronounced in 2014 an increase of 193%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Cote d'Ivoire stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+26.0%).

M-Xylene And Xylenes Imports

Imports in Western Africa

After three years of growth, overseas purchases of m-xylene and mixed xylene isomers decreased by -91.9% to X tons in 2022. In general, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 85% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined remarkably in the following year.

In value terms, m-xylene and xylenes imports reduced sharply to $X in 2022. Overall, imports showed a abrupt descent. The pace of growth was the most pronounced in 2013 with an increase of 83% against the previous year. The level of import peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Benin (X tons), Guinea (X tons), Cabo Verde (X tons) and Senegal (X tons) represented the key importers of m-xylene and mixed xylene isomers, together achieving 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guinea (with a CAGR of +37.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest m-xylene and xylenes importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Benin ($X), with a combined 68% share of total imports.

Benin, with a CAGR of +32.8%, 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

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of 30% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, m-xylene and xylenes import price increased by +95.9% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 51%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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