Western Africa: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Western Africa

In 2022, the West African synthetic organic colouring matters market decreased by -1.1% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Other Synthetic Organic Colouring Matters in Western Africa

In value terms, synthetic organic colouring matters production amounted to $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -3.3% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports in Western Africa

In 2022, approx. X tons of other synthetic organic colouring matters were exported in Western Africa; falling by -17.3% on 2021 figures. Overall, exports faced a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 41% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, synthetic organic colouring matters exports reduced to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 48% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) represented the key exporter of other synthetic organic colouring matters, constituting 62% of total exports. It was distantly followed by Cote d'Ivoire (X tons), achieving a 30% share of total exports. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to synthetic organic colouring matters exports from Nigeria stood at -8.9%. At the same time, Mali (+2.6%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +2.6% from 2012-2022. By contrast, Cote d'Ivoire (-13.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Mali increased by +8 and +1.6 percentage points, respectively.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Mali ($X) constituted the countries with the highest levels of exports in 2022, with a combined 89% share of total exports.

Mali, with a CAGR of -1.5%, 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 a decline in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by 5.2% against the previous year. Overall, the export price, however, continues to indicate a pronounced contraction. The pace of growth was the most pronounced in 2015 an increase of 13% against the previous year. 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 failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.8%), while the other leaders experienced a decline in the export price figures.

Imports of Other Synthetic Organic Colouring Matters

Imports in Western Africa

After five years of growth, supplies from abroad of other synthetic organic colouring matters decreased by -25.4% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 22%. Over the period under review, imports attained the maximum at X tons in 2021, and then plummeted in the following year.

In value terms, synthetic organic colouring matters imports shrank rapidly to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. The level of import peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

Nigeria was the major importing country with an import of about X tons, which reached 38% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a 15% share, followed by Ghana (12%), Togo (8.9%), Senegal (7.7%) and Guinea (5.4%). Mauritania (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to synthetic organic colouring matters imports into Nigeria stood at -1.4%. At the same time, Guinea (+9.9%), Cote d'Ivoire (+6.7%) and Senegal (+6.1%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +9.9% from 2012-2022. By contrast, Togo (-1.3%), Ghana (-3.5%) and Mauritania (-10.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Senegal and Guinea increased by +7.6, +3.7 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest synthetic organic colouring matters importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together accounting for 69% of total imports. Mauritania, Senegal, Guinea and Togo lagged somewhat behind, together accounting for a further 24%.

Guinea, with a CAGR of +11.9%, 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 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 an increase of 25%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritania ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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