Western Africa: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in Western Africa

The West African rosin and resin acids market rose sharply to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption continues to indicate a mild downturn. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Rosin And Resin Acids And Derivatives in Western Africa

In value terms, rosin and resin acids production surged to $X in 2022 estimated in export price. Over the period under review, production showed mild growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% 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 Rosin And Resin Acids And Derivatives

Exports in Western Africa

Rosin and resin acids exports expanded slightly to X tons in 2022, picking up by X% against 2021. Overall, exports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, rosin and resin acids exports amounted to $X in 2022. In general, exports showed measured growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal dominates exports structure, recording X tons, which was near X% of total exports in 2022. It was distantly followed by Togo (X tons) and Nigeria (X tons), together mixing up a X% share of total exports.

Senegal was also the fastest-growing in terms of the rosin and resin acids and derivatives exports, with a CAGR of X% from 2012 to 2022. Togo (X%) and Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Togo and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) remains the largest rosin and resin acids supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, saw perceptible growth. The growth pace was the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Imports of Rosin And Resin Acids And Derivatives

Imports in Western Africa

In 2022, supplies from abroad of rosin and resin acids and derivatives decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, rosin and resin acids imports dropped markedly to $X in 2022. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of rosin and resin acids imports in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Ghana (X tons), together resulting at X% of total import. It was distantly followed by Senegal (X tons), generating a X% share of total imports. Gambia (X tons) followed a long way behind the leaders.

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

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal and Gambia lagged somewhat behind, together accounting for a further X%.

Senegal, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Cote d'Ivoire ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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