Western Africa: Nucleic Acid Market 2024

Nucleic Acid Market Size in Western Africa

The West African nucleic acid market reduced to $X in 2021, which is down by -12.9% against the previous year. Over the period under review, consumption, however, enjoyed buoyant growth. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Nucleic Acid Production in Western Africa

In value terms, nucleic acid production reduced to $X in 2021 estimated in export price. In general, production, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 67%. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Nucleic Acid Exports

Exports in Western Africa

Nucleic acid exports plummeted to X tons in 2021, declining by -16.8% against the previous year's figure. Overall, exports, however, saw a pronounced expansion. The pace of growth appeared the most rapid in 2015 with an increase of 445% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, nucleic acid exports reached $X in 2021. Total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.8% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 52% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Guinea represented the key exporting country with an export of about X tons, which reached 63% of total exports. It was distantly followed by Cote d'Ivoire (X kg), achieving a 31% share of total exports. The following exporters - Senegal (X kg) and Niger (X kg) - each resulted at a 3.4% share of total exports.

Guinea was also the fastest-growing in terms of the nucleic acids and their salts exports, with a CAGR of +97.3% from 2012 to 2021. Senegal experienced a relatively flat trend pattern. Cote d'Ivoire (-8.1%) and Niger (-12.8%) illustrated a downward trend over the same period. While the share of Guinea (+63 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Niger (-6 p.p.) and Cote d'Ivoire (-57.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of exports in 2021, together comprising 85% of total exports.

Guinea, with a CAGR of +94.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with an increase of 33% against the previous year. In general, the export price showed slight growth. The most prominent rate of growth was recorded in 2018 an increase of 466% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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 Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+25.9%), while the other leaders experienced more modest paces of growth.

Nucleic Acid Imports

Imports in Western Africa

In 2021, purchases abroad of nucleic acids and their salts decreased by -41.7% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 52%. Over the period under review, imports attained the maximum at X tons in 2020, and then dropped rapidly in the following year.

In value terms, nucleic acid imports declined significantly to $X in 2021. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 75%. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced rapidly in the following year.

Imports by Country

Nigeria represented the main importer of nucleic acids and their salts in Western Africa, with the volume of imports accounting for X tons, which was approx. 74% of total imports in 2021. Senegal (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (9%).

Imports into Nigeria increased at an average annual rate of +10.6% from 2012 to 2021. At the same time, Senegal (+32.7%) and Cote d'Ivoire (+8.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +32.7% from 2012-2021. From 2012 to 2021, the share of Senegal increased by +12 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported nucleic acids and their salts in Western Africa, comprising 69% of total imports. The second position in the ranking was held by Senegal ($X), with a 17% share of total imports.

In Nigeria, nucleic acid imports increased at an average annual rate of +11.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+31.9% per year) and Cote d'Ivoire (+6.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, waning by -3.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 26% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform