Report Update Nov 1, 2024

Western Africa - Tall Oil - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Tall Oil Market 2024

Tall Oil Market Size in Western Africa

The West African tall oil market totaled $X in 2021, leveling off at the previous year. Over the period under review, consumption showed a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Tall Oil Production in Western Africa

In value terms, tall oil production amounted to $X in 2021 estimated in export price. In general, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 28% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Tall Oil Exports

Exports in Western Africa

After five years of decline, shipments abroad of tall oil decreased by -11.8% to X tons in 2020. Over the period under review, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 155%. The volume of export peaked at X tons in 2019, and then contracted in the following year.

In value terms, tall oil exports declined significantly to $X in 2020. Overall, exports recorded a perceptible curtailment. The smallest decline of -13.3% was in 2016. The level of export peaked at $X in 2019, and then dropped sharply in the following year.

Exports by Country

The shipments of the one major exporters of tall oil, namely Cote d'Ivoire, represented more than two-thirds of total export.

Cote d'Ivoire was also the fastest-growing in terms of the tall oil exports, with a CAGR of +25.3% from 2013 to 2020. From 2013 to 2020, the share of Cote d'Ivoire increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest tall oil supplier in Western Africa.

From 2013 to 2020, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +11.1%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2020, which is down by -8% against the previous year. In general, the export price saw a abrupt setback. The growth pace was the most rapid in 2017 when the export price increased by 3,077% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2020, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2013 to 2020, the rate of growth in terms of prices for Cote d'Ivoire amounted to -11.3% per year.

Tall Oil Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded decline in overseas purchases of tall oil, which decreased by -10.2% to X tons in 2021. In general, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2016 when imports increased by 68%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, tall oil imports amounted to $X in 2021. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 53%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Senegal dominates imports structure, accounting for X tons, which was near 87% of total imports in 2021. It was distantly followed by Nigeria (X tons), committing a 7.3% share of total imports. Ghana (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Senegal decreased at an average annual rate of -11.6% from 2012 to 2021. At the same time, Nigeria (+22.9%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +22.9% from 2012-2021. By contrast, Cote d'Ivoire (-1.7%) and Ghana (-5.0%) illustrated a downward trend over the same period. Nigeria (+6.9 p.p.) significantly strengthened its position in terms of the total imports, while Senegal saw its share reduced by -9.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported tall oil in Western Africa, comprising 77% of total imports. The second position in the ranking was held by Nigeria ($X), with a 12% share of total imports. It was followed by Ghana, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled -8.3%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+18.0% per year) and Ghana (-6.7% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, picking up by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tall oil in Western Africa?

Nigeria constituted the country with the largest volume of tall oil consumption, accounting for 78% of total volume. Moreover, tall oil consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire, eightfold. The third position in this ranking was occupied by Niger, with a 7.1% share.

What are the largest producers of tall oil in Western Africa?

The country with the largest volume of tall oil production was Nigeria, accounting for 78% of total volume. Moreover, tall oil production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire, eightfold. The third position in this ranking was occupied by Niger, with a 7.1% share.

What are the leading exporters of tall oil in Western Africa?

In value terms, Cote d'Ivoire remains the largest tall oil supplier in Western Africa.

What are the leading importers of tall oil in Western Africa?

In value terms, Senegal constitutes the largest market for imported tall oil in Western Africa, comprising 93% of total imports. The second position in the ranking was occupied by Nigeria, with a 3.2% share of total imports.

What is the average export price for tall oil in Western Africa?

The tall oil export price in Western Africa stood at $1,580 per ton in 2020, which is down by -8% against the previous year.

What is the average import price for tall oil in Western Africa?

In 2021, the tall oil import price in Western Africa amounted to $919 per ton, declining by -58.2% against the previous year.

This report provides an in-depth analysis of the tall oil 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 20147130 - Tall oil, whether or not refined

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