Western Africa: Oxygen-Function Amino-Compound Market 2024

Oxygen-Function Amino-Compound Market Size in Western Africa

After five years of growth, the West African oxygen-function amino-compound market decreased by -11.7% to $X in 2021. In general, consumption, however, enjoyed a strong expansion. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Oxygen-Function Amino-Compound Production in Western Africa

In value terms, oxygen-function amino-compound production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, production attained the peak level of $X, and then reduced in the following year.

Oxygen-Function Amino-Compound Exports

Exports in Western Africa

In 2021, overseas shipments of oxygen-function amino-compounds decreased by -42% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 164% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, oxygen-function amino-compound exports declined sharply to $X in 2021. In general, exports showed a slight shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 89%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal dominates exports structure, accounting for X tons, which was approx. 85% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons) and Ghana (X tons), together generating an 11% share of total exports. Nigeria (X kg) took a relatively small share of total exports.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of oxygen-function amino-compounds. At the same time, Nigeria (+10.2%) and Ghana (+1.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +10.2% from 2012-2021. By contrast, Cote d'Ivoire (-12.9%) illustrated a downward trend over the same period. While the share of Senegal (+24 p.p.), Nigeria (+1.9 p.p.) and Ghana (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-10.2 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest oxygen-function amino-compound supplier in Western Africa, comprising 51% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 23% share of total exports. It was followed by Cote d'Ivoire, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal stood at -1.0%. In the other countries, the average annual rates were as follows: Nigeria (+37.9% per year) and Cote d'Ivoire (-11.2% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, shrinking by -9% against the previous year. Over the period under review, the export price, however, posted a slight expansion. The growth pace was the most rapid in 2020 when the export price increased by 201%. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

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 Nigeria ($X per ton), while Senegal ($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 (+25.1%), while the other leaders experienced more modest paces of growth.

Oxygen-Function Amino-Compound Imports

Imports in Western Africa

In 2021, the amount of oxygen-function amino-compounds imported in Western Africa expanded notably to X tons, with an increase of 9.9% compared with the previous year's figure. Overall, imports posted strong growth. The pace of growth was the most pronounced in 2013 with an increase of 106%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, oxygen-function amino-compound imports surged to $X in 2021. Over the period under review, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 120%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

Nigeria was the main importer of oxygen-function amino-compounds in Western Africa, with the volume of imports amounting to X tons, which was near 57% of total imports in 2021. Ghana (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons), Benin (X tons) and Senegal (X tons). All these countries together held near 41% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to oxygen-function amino-compound imports into Nigeria stood at +13.5%. At the same time, Benin (+56.1%), Ghana (+19.2%) and Cote d'Ivoire (+14.4%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +56.1% from 2012-2021. By contrast, Senegal (-12.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Ghana, Benin and Cote d'Ivoire increased by +21, +8.7, +7.5 and +4.5 percentage points, respectively.

In value terms, the largest oxygen-function amino-compound importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 91% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 9.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2015 when the import price increased by 42% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat 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 Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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