Western Africa: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Western Africa

The West African propyl and isopropyl alcohol market stood at $X in 2022, with an increase of 1.7% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -15.6% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Western Africa

In value terms, propyl and isopropyl alcohol production rose significantly to $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 -6.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 32% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports in Western Africa

In 2022, exports of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Western Africa dropped rapidly to X tons, shrinking by -64.1% compared with the year before. Over the period under review, exports, however, enjoyed a moderate increase. The growth pace was the most rapid in 2021 when exports increased by 1,220% against the previous year. As a result, the exports attained the peak of X tons, and then fell markedly in the following year.

In value terms, propyl and isopropyl alcohol exports contracted dramatically to $X in 2022. Overall, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 1,178% against the previous year. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Niger prevails in exports structure, amounting to X tons, which was approx. 77% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Nigeria (X tons), together achieving a 22% share of total exports.

Niger was also the fastest-growing in terms of the propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports, with a CAGR of +51.7% from 2012 to 2022. Ghana (-1.8%), Nigeria (-14.1%) and Cote d'Ivoire (-16.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger and Nigeria increased by +77 and +6.2 percentage points, respectively.

In value terms, Niger ($X) remains the largest propyl and isopropyl alcohol supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was held by Ghana ($X), with a 15% share of total exports. It was followed by Nigeria, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Niger stood at +70.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+14.1% per year) and Nigeria (-4.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, growing by 27% against the previous year. Overall, the export price saw prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 92% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+16.2%), while the other leaders experienced more modest paces of growth.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports in Western Africa

In 2022, supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -16% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, showed perceptible growth. The most prominent rate of growth was recorded in 2020 when imports increased by 82%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports reduced to $X in 2022. Overall, imports, however, continue to indicate a tangible increase. The pace of growth was the most pronounced in 2020 with an increase of 121%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the key importing country with an import of around X tons, which amounted to 74% of total imports. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together constituting a 22% share of total imports. Liberia (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to propyl and isopropyl alcohol imports into Nigeria stood at +4.6%. At the same time, Liberia (+30.0%), Cote d'Ivoire (+6.4%) and Ghana (+3.5%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +30.0% from 2012-2022. Liberia (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Ghana saw its share reduced by -1.6% and -2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Western Africa, comprising 76% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 6.4% share.

In Nigeria, propyl and isopropyl alcohol imports expanded at an average annual rate of +3.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+3.0% per year) and Cote d'Ivoire (+4.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by 11% against the previous year. Overall, the import price, however, continues to indicate a mild reduction. The pace of growth was the most pronounced in 2020 when the import price increased by 21%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Nigeria ($X per ton) and Liberia ($X per ton), while Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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