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

Western Africa - Tankers - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Tanker Market 2024

Tanker Market Size in Western Africa

The West African tanker market skyrocketed to $X in 2021, increasing by 23% against the previous year. Over the period under review, consumption saw a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Tanker Production in Western Africa

In value terms, tanker production dropped slightly to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +36.1% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 118% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Tanker Exports

Exports in Western Africa

In 2021, tanker exports in Western Africa surged to X units, picking up by 140% compared with 2020 figures. Over the period under review, exports continue to indicate a slight expansion. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, tanker exports skyrocketed to $X in 2021. In general, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Liberia (X units) represented the key exporter of tankers in Western Africa, generating 100% of total export.

Liberia experienced a relatively flat trend pattern with regard to volume of exports of tankers. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X) also remains the largest tanker supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Liberia amounted to +11.6%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, surging by 47% against the previous year. Over the period under review, the export price showed a prominent expansion. The pace of growth was the most pronounced in 2018 when the export price increased by 151% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the rate of growth in terms of prices for Liberia amounted to +10.7% per year.

Tanker Imports

Imports in Western Africa

In 2021, approx. X units of tankers were imported in Western Africa; jumping by 21% on the previous year's figure. In general, imports showed a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 60%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, tanker imports surged to $X in 2021. Overall, imports enjoyed a notable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 80% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Liberia dominates imports structure, reaching X units, which was approx. 92% of total imports in 2021. It was distantly followed by Nigeria (X units), making up an 8.2% share of total imports.

Liberia was also the fastest-growing in terms of the tankers imports, with a CAGR of +8.6% from 2012 to 2021. Nigeria (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Liberia increased by +13 percentage points.

In value terms, Liberia ($X) constitutes the largest market for imported tankers in Western Africa, comprising 99% of total imports. The second position in the ranking was held by Nigeria ($X), with a 0.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Liberia stood at +4.3%.

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, growing by 16% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2015 an increase of 45%. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, 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 Liberia ($X per unit), while Nigeria stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-2.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Liberia remains the largest tanker consuming country in Western Africa, comprising approx. 97% of total volume.
The country with the largest volume of tanker production was Ghana, comprising approx. 98% of total volume. It was followed by Sierra Leone, with a 1.7% share of total production.
In value terms, Liberia remains the largest tanker supplier in Western Africa.
In value terms, Liberia constitutes the largest market for imported tankers in Western Africa.
The export price in Western Africa stood at $79,385 per unit in 2021, surging by 32% against the previous year.
In 2021, the import price in Western Africa amounted to $373,301 per unit, with a decrease of -25.3% against the previous year.

This report provides an in-depth analysis of the tanker 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 30112210 - Crude oil tankers
  • Prodcom 30112230 - Oil product tankers
  • Prodcom 30112250 - Chemical tankers
  • Prodcom 30112270 - Gas carriers

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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