Western Africa: Polyacetals Market 2024

Polyacetals Market Size in Western Africa

The West African polyacetals market rose notably to $X in 2021, growing by 7.9% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Polyacetals Production in Western Africa

In value terms, polyacetals production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Polyacetals Exports

Exports in Western Africa

In 2021, after two years of growth, there was significant decline in shipments abroad of polyacetals in primary forms, when their volume decreased by -95.8% to X tons. In general, exports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2017 when exports increased by 709% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyacetals exports shrank dramatically to $X in 2021. Over the period under review, exports recorded a sharp decline. The most prominent rate of growth was recorded in 2017 when exports increased by 1,646% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Niger prevails in exports structure, resulting at X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Nigeria (X kg), constituting a 7.3% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the polyacetals in primary forms exports, with a CAGR of -15.4% from 2012 to 2021. Nigeria (-48.7%) and Cote d'Ivoire (-51.2%) illustrated a downward trend over the same period. Niger (+78 p.p.) and Cote d'Ivoire (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -80.7% from 2012 to 2021, respectively.

In value terms, Niger ($X) remains the largest polyacetals supplier in Western Africa, comprising 94% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 4.4% share of total exports.

In Niger, polyacetals exports declined by an average annual rate of -16.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (-47.7% per year) and Cote d'Ivoire (-54.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, surging by 187% against the previous year. In general, the export price enjoyed a resilient expansion. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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 Niger ($X per ton), while Nigeria ($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 (+2.0%), while the other leaders experienced a decline in the export price figures.

Polyacetals Imports

Imports in Western Africa

In 2021, supplies from abroad of polyacetals in primary forms decreased by -2.7% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 422% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, polyacetals imports declined rapidly to $X in 2021. Overall, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 584% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria (X tons) represented roughly 98% of total imports in 2021.

Nigeria was also the fastest-growing in terms of the polyacetals in primary forms imports, with a CAGR of +26.0% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +7.4 percentage points, 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 polyacetals in primary forms in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +10.1%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, shrinking by -29.2% against the previous year. Overall, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 when the import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, 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 2021, the rate of growth in terms of prices for Nigeria amounted to -12.6% per year.

Source: IndexBox Platform

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