Western Africa: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Western Africa

The West African polyphenols and phenol-alcohols market skyrocketed to $X in 2022, surging by 24% against the previous year. In general, consumption showed a resilient increase. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Polyphenols And Phenol-Alcohols Production in Western Africa

In value terms, polyphenols and phenol-alcohols production reached $X in 2022 estimated in export price. Overall, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 69%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports in Western Africa

After five years of growth, shipments abroad of polyphenols and phenol-alcohols decreased by -85.1% to X tons in 2022. In general, exports showed a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 77% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, polyphenols and phenol-alcohols exports fell dramatically to $X in 2022. Over the period under review, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 103% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire represented the key exporter of polyphenols and phenol-alcohols in Western Africa, with the volume of exports recording X tons, which was approx. 61% of total exports in 2022. Togo (X tons) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (4.9%).

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of -3.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest polyphenols and phenol-alcohols supplying countries in Western Africa were Cote d'Ivoire ($X), Togo ($X) and Senegal ($X).

Cote d'Ivoire, with a CAGR of -8.1%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Western Africa amounted to $X per ton, dropping by -4.6% against the previous year. Overall, the export price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 when the export price increased by 14% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-0.0%), while the other leaders experienced a decline in the export price figures.

Polyphenols And Phenol-Alcohols Imports

Imports in Western Africa

Polyphenols and phenol-alcohols imports surged to X tons in 2022, rising by 61% on the year before. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 70%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, polyphenols and phenol-alcohols imports surged to $X in 2022. Over the period under review, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire (X tons) and Togo (X tons) were the major importers of polyphenols and phenol-alcohols in 2022, recording approx. 42% and 38% of total imports, respectively. Senegal (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (6.1%).

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyphenols and phenol-alcohols importing markets in Western Africa were Togo ($X), Cote d'Ivoire ($X) and Senegal ($X), together accounting for 95% of total imports.

Among the main importing countries, Senegal, with a CAGR of +39.3%, recorded the highest growth rate of 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 2022, surging by 46% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyphenols and phenol-alcohols import price increased by +82.2% against 2020 indices. As a result, import price reached the peak level 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 Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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