Western Africa: Propylene Glycol Market 2024

Propylene Glycol Market Size in Western Africa

The West African propylene glycol market stood at $X in 2022, surging by 12% against the previous year. In general, consumption showed a buoyant expansion. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Propylene Glycol Production in Western Africa

In value terms, propylene glycol production fell slightly to $X in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 76%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports in Western Africa

After two years of growth, overseas shipments of propylene glycol (propane-1,2-diol) decreased by -10.1% to X tons in 2022. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, propylene glycol exports contracted remarkably to $X in 2022. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

In 2022, Senegal (X tons) represented the major exporter of propylene glycol (propane-1,2-diol), committing 84% of total exports. It was distantly followed by Cote d'Ivoire (X tons), committing a 14% share of total exports.

Senegal was also the fastest-growing in terms of the propylene glycol (propane-1,2-diol) exports, with a CAGR of +9.7% from 2012 to 2022. At the same time, Cote d'Ivoire (+7.9%) displayed positive paces of growth. Senegal (+5.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest propylene glycol supplier in Western Africa, comprising 86% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 11% share of total exports.

In Senegal, propylene glycol exports increased at an average annual rate of +9.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by -9.7% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 28% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (-0.7%).

Propylene Glycol Imports

Imports in Western Africa

In 2022, propylene glycol imports in Western Africa skyrocketed to X tons, growing by 29% compared with 2021 figures. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.9% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, propylene glycol imports skyrocketed to $X in 2022. Overall, imports recorded buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 37%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the major importer of propylene glycol (propane-1,2-diol) in Western Africa, with the volume of imports finishing at X tons, which was approx. 47% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons), Togo (X tons) and Ghana (X tons), together mixing up a 50% share of total imports.

Imports into Nigeria increased at an average annual rate of +7.4% from 2012 to 2022. At the same time, Senegal (+8.0%), Ghana (+7.4%), Togo (+6.6%) and Cote d'Ivoire (+1.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +8.0% from 2012-2022. While the share of Nigeria (+6.6 p.p.) and Senegal (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-10.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported propylene glycol (propane-1,2-diol) in Western Africa, comprising 49% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Togo, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +7.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+0.0% per year) and Togo (+12.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, surging by 5.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 47% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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