Western Africa: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Western Africa

The West African synthetic organic tanning substances market declined rapidly to $X in 2021, reducing by -52.6% against the previous year. Overall, consumption faced a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Organic Tanning Substances in Western Africa

In value terms, synthetic organic tanning substances production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 11%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Synthetic Organic Tanning Substances

Exports in Western Africa

In 2021, shipments abroad of synthetic organic tanning substances increased by 361% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a sharp descent. The pace of growth was the most pronounced in 2018 with an increase of 12,928%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic organic tanning substances exports dropped markedly to $X in 2021. In general, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 1,257% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the key exporter of synthetic organic tanning substances, making up 89% of total exports. It was distantly followed by Nigeria (X kg), mixing up an 11% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the synthetic organic tanning substances exports, with a CAGR of +7.9% from 2012 to 2021. Nigeria (-10.2%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+85 p.p.) and Nigeria (+8.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest synthetic organic tanning substances supplier in Western Africa, comprising 92% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 8.2% share of total exports.

In Cote d'Ivoire, synthetic organic tanning substances exports increased at an average annual rate of +6.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, which is down by -90.5% against the previous year. Over the period under review, the export price, however, recorded a prominent increase. The growth pace was the most rapid in 2020 when the export price increased by 1,466% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined remarkably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.3%).

Imports of Synthetic Organic Tanning Substances

Imports in Western Africa

In 2021, purchases abroad of synthetic organic tanning substances decreased by -34% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 79%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, synthetic organic tanning substances imports shrank remarkably to $X in 2021. Overall, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 59% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. 97% of total imports in 2021. Senegal (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic organic tanning substances imports into Nigeria stood at -10.9%. At the same time, Senegal (+6.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +6.3% from 2012-2021. While the share of Nigeria (-2 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported synthetic organic tanning substances in Western Africa, comprising 96% of total imports. The second position in the ranking was taken by Senegal ($X), with a 2.4% share of total imports.

In Nigeria, synthetic organic tanning substances imports declined by an average annual rate of -13.9% over the period from 2012-2021.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, declining by -41.9% against the previous year. In general, the import price continues to indicate a perceptible descent. The growth pace was the most rapid in 2018 an increase of 44% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was Senegal ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.0%).

Source: IndexBox Platform

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