Western Africa: Monoethanolamine Market 2024

Monoethanolamine Market Size in Western Africa

The West African monoethanolamine market dropped modestly to $X in 2021, with a decrease of -2.9% against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Monoethanolamine Production in Western Africa

In value terms, monoethanolamine production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 20%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Monoethanolamine Exports

Exports in Western Africa

In 2021, monoethanolamine exports in Western Africa declined significantly to X tons, with a decrease of -44.3% compared with the previous year. Overall, exports saw a noticeable downturn. The pace of growth appeared the most rapid in 2019 with an increase of 128% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, monoethanolamine exports reduced notably to $X in 2021. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Senegal (X tons) was the major exporter of monoethanolamine and its salts in Western Africa, creating 100% of total export.

Senegal was also the fastest-growing in terms of the monoethanolamine and its salts exports, with a CAGR of -4.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest monoethanolamine supplier in Western Africa.

In Senegal, monoethanolamine exports declined by an average annual rate of -5.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 93%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to -0.8% per year.

Monoethanolamine Imports

Imports in Western Africa

In 2021, purchases abroad of monoethanolamine and its salts increased by 8.8% to X tons, rising for the second consecutive year after three years of decline. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 495% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, monoethanolamine imports soared to $X in 2021. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 351%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X tons) represented the major importer of monoethanolamine and its salts, making up 71% of total imports. Ghana (X tons) took the second position in the ranking, followed by Togo (X tons). All these countries together took near 17% share of total imports. Senegal (X tons), Mali (X tons) and Cote d'Ivoire (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +22.2% from 2012 to 2021. At the same time, Senegal (+35.5%), Cote d'Ivoire (+20.0%), Togo (+13.2%), Ghana (+13.0%) and Mali (+8.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +35.5% from 2012-2021. Nigeria (+20 p.p.) and Senegal (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Togo, Mali and Ghana saw its share reduced by -2.4%, -3% and -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported monoethanolamine and its salts in Western Africa, comprising 69% of total imports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total imports. It was followed by Togo, with a 4.3% share.

In Nigeria, monoethanolamine imports increased at an average annual rate of +20.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+10.3% per year) and Togo (+7.7% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, increasing by 29% against the previous year. Overall, the import price, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2019 when the import price increased by 35%. Over the period under review, import prices reached the maximum 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 Mali ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :