Western Africa: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Western Africa

The West African saturated acyclic monocarboxylic acids market totaled $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Saturated Acyclic Monocarboxylic Acids in Western Africa

In value terms, saturated acyclic monocarboxylic acids production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in Western Africa

In 2022, the amount of saturated acyclic monocarboxylic acids exported in Western Africa surged to X tons, growing by X% on the previous year. Over the period under review, exports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the key exporter of saturated acyclic monocarboxylic acids, mixing up X% of total exports. It was distantly followed by Sierra Leone (X tons), constituting a X% share of total exports. The following exporters - Senegal (X tons) and Cote d'Ivoire (X tons) - each accounted for an X% share of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Sierra Leone (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest saturated acyclic monocarboxylic acids supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total exports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids export price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 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 Cote d'Ivoire ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

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

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in Western Africa

In 2022, overseas purchases of saturated acyclic monocarboxylic acids decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, saturated acyclic monocarboxylic acids imports dropped modestly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which resulted at X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with an X% share, followed by Ghana (X%), Senegal (X%) and Togo (X%). Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to saturated acyclic monocarboxylic acids imports into Nigeria stood at X%. At the same time, Ghana (X%), Senegal (X%), Mali (X%), Togo (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Ghana (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported saturated acyclic monocarboxylic acids in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady 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 Nigeria ($X per ton), while Mali ($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 more modest paces of growth.

Source: IndexBox Platform

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