Report Update Nov 1, 2024

Western Africa - Methacrylic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Methacrylic Acid Market 2024

Methacrylic Acid Market Size in Western Africa

In 2022, the West African methacrylic acid market increased by 31% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption posted a tangible expansion. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Methacrylic Acid Production in Western Africa

In value terms, methacrylic acid production rose markedly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 33%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Methacrylic Acid Imports

Imports in Western Africa

In 2022, overseas purchases of methacrylic acid and its salts were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports showed a noticeable expansion. The pace of growth appeared the most rapid in 2013 with an increase of 288%. 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, methacrylic acid imports skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 203% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) was the major importer of methacrylic acid and its salts in Western Africa, mixing up 99% of total import.

Nigeria was also the fastest-growing in terms of the methacrylic acid and its salts imports, with a CAGR of +4.8% from 2012 to 2022. Nigeria (+7 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, Nigeria ($X) constitutes the largest market for imported methacrylic acid and its salts in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +1.5%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by -4.4% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -3.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for methacrylic acid and its salts in Western Africa?

The country with the largest volume of methacrylic acid consumption was Nigeria, comprising approx. 91% of total volume. Moreover, methacrylic acid consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, more than tenfold.

What are the largest producers of methacrylic acid and its salts in Western Africa?

Gambia remains the largest methacrylic acid producing country in Western Africa, accounting for 100% of total volume.

What is the average import price for methacrylic acid and its salts in Western Africa?

The import price in Western Africa stood at $2,247 per ton in 2021, falling by -9.7% against the previous year.

This report provides an in-depth analysis of the methacrylic acid 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:

Prodcom 20143330 - Methacrylic acid and its salts

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