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Report Western Africa - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Western Africa - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Synthetic Rubber Market 2024

Synthetic Rubber Exports

Exports in Western Africa

In 2021, synthetic rubber exports in Western Africa shrank notably to X tons, with a decrease of -85.1% against the previous year. Overall, exports faced a sharp shrinkage. The growth pace was the most rapid in 2016 with an increase of 767%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber exports dropped notably to $X in 2021. In general, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2015 with an increase of 278%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons) represented roughly 100% of total exports in 2021.

Senegal was also the fastest-growing in terms of the synthetic rubber exports, with a CAGR of +50.3% from 2012 to 2021. While the share of Senegal (+100 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest synthetic rubber supplier in Western Africa.

In Senegal, synthetic rubber exports increased at an average annual rate of +13.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -68.9% against the previous year. In general, the export price faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 226% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to -24.4% per year.

Synthetic Rubber Imports

Imports in Western Africa

In 2021, the amount of synthetic rubber imported in Western Africa expanded significantly to X tons, increasing by 8.2% compared with 2020. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber imports surged to $X in 2021. In general, imports, however, showed a slight decrease. The growth pace was the most rapid in 2019 with an increase of 24%. 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, recording X tons, which was near 70% of total imports in 2021. It was distantly followed by Senegal (X tons), Cote d'Ivoire (X tons) and Ghana (X tons), together constituting a 25% share of total imports. Benin (X tons) and Burkina Faso (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber imports into Nigeria stood at -3.8%. At the same time, Senegal (+24.9%), Benin (+18.2%), Ghana (+17.6%), Cote d'Ivoire (+14.3%) and Burkina Faso (+3.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +24.9% from 2012-2021. Senegal (+8.7 p.p.), Cote d'Ivoire (+5.8 p.p.), Ghana (+5.3 p.p.) and Benin (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -21.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported synthetic rubber in Western Africa, comprising 67% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports. It was followed by Ghana, with an 11% share.

In Nigeria, synthetic rubber imports shrank by an average annual rate of -2.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+5.2% per year) and Ghana (+11.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 32% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of synthetic rubber consumption in 2020 were Ghana, Cote d'Ivoire and Guinea, together accounting for 59% of total consumption. These countries were followed by Benin, Sierra Leone, Togo, Liberia and Mauritania, which together accounted for a further 34%.
The countries with the highest volumes of synthetic rubber production in 2020 were Ghana, Cote d'Ivoire and Guinea, together accounting for 60% of total production. Benin, Sierra Leone, Togo, Liberia and Mauritania lagged somewhat behind, together comprising a further 34%.
In value terms, Cote d'Ivoire emerged as the largest synthetic rubber supplier in Western Africa, comprising 55% of total exports. The second position in the ranking was occupied by Ghana, with a 15% share of total exports. It was followed by Nigeria, with a 12% share.
In value terms, Nigeria constitutes the largest market for imported synthetic rubber in Western Africa, comprising 41% of total imports. The second position in the ranking was occupied by Liberia, with a 10% share of total imports. It was followed by Guinea-Bissau, with a 10% share.
In 2020, the synthetic rubber export price in Western Africa amounted to $1,424 per ton, waning by -69.2% against the previous year.
The synthetic rubber import price in Western Africa stood at $2,037 per ton in 2020, shrinking by -3.6% against the previous year.

This report provides an in-depth analysis of the synthetic rubber 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 20171050 - Synthetic latex rubber
  • Prodcom 20171090 - Synthetic rubber (excluding latex)

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 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. 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. 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. 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

  12. 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

  13. 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

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