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Western Africa - Resinoids - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Resinoids Market 2022

Resinoids Market Size in Western Africa

The West African resinoids market surged to $X in 2021, growing by 26% against the previous year. In general, consumption recorded a tangible increase. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Resinoids Production in Western Africa

In value terms, resinoids production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 125%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Resinoids Exports

Exports in Western Africa

In 2021, the amount of resinoids exported in Western Africa declined sharply to X kg, falling by -29.6% against the previous year's figure. Overall, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 1,491% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, resinoids exports shrank markedly to $X in 2021. Over the period under review, exports faced a sharp slump. The pace of growth appeared the most rapid in 2016 with an increase of 952% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X kg), distantly followed by Nigeria (X kg) represented the main exporters of resinoids, together making up 100% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +21.5%).

In value terms, the largest resinoids supplying countries in Western Africa were Nigeria ($X) and Senegal ($X).

Nigeria, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with a decrease of -16.8% against the previous year. Over the period under review, the export price, however, enjoyed perceptible growth. The growth pace was the most rapid in 2020 an increase of 806% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+24.0%).

Resinoids Imports

Imports in Western Africa

In 2021, approx. X tons of resinoids were imported in Western Africa; increasing by 37% on the year before. In general, imports showed a measured expansion. The pace of growth was the most pronounced in 2018 when imports increased by 85%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, resinoids imports soared to $X in 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 116%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria represented the major importer of resinoids in Western Africa, with the volume of imports recording X tons, which was approx. 48% of total imports in 2021. Ghana (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (5.8%), Mauritania (5.7%) and Togo (4.7%). Guinea (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were in Senegal (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest resinoids importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Senegal ($X), together accounting for 82% of total imports.

Senegal, with a CAGR of +55.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, falling by -5.5% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, resinoids import price decreased by -16.8% against 2019 indices. The growth pace was the most rapid in 2017 when the import price increased by 100%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Guinea ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for resinoids in Western Africa?

Nigeria constituted the country with the largest volume of resinoids consumption, comprising approx. 50% of total volume. Moreover, resinoids consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire, twofold. Senegal ranked third in terms of total consumption with a 15% share.

What are the largest producers of resinoids in Western Africa?

The countries with the highest volumes of in 2021 were Cote d'Ivoire and Senegal.

What are the leading exporters of resinoids in Western Africa?

In value terms, Nigeria remains the largest resinoids supplier in Western Africa.

What are the leading importers of resinoids in Western Africa?

In value terms, Nigeria, Ghana and Guinea constituted the countries with the highest levels of imports in 2021, together accounting for 92% of total imports.

What is the average export price for resinoids in Western Africa?

In 2021, the export price in Western Africa amounted to $56,900 per ton, picking up by 11% against the previous year.

What is the average import price for resinoids in Western Africa?

The import price in Western Africa stood at $5,716 per ton in 2021, dropping by -10.2% against the previous year.

This report provides an in-depth analysis of the resinoids market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20531030 - Resinoids

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023