Western Africa: Triethanolamine Market 2024

Triethanolamine Market Size in Western Africa

In 2021, after five years of growth, there was decline in the West African triethanolamine market, when its value decreased by -2.1% to $X. In general, consumption, however, continues to indicate a buoyant increase. The level of consumption peaked at $X in 2020, and then contracted modestly in the following year.

Triethanolamine Production in Western Africa

In value terms, triethanolamine production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 35%. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Triethanolamine Exports

Exports in Western Africa

In 2021, shipments abroad of triethanolamine and its salts increased by 0.8% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, exports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 112% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, triethanolamine exports declined slightly to $X in 2021. In general, exports, however, faced a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 120%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Senegal (X tons) was the major exporter of triethanolamine and its salts in Western Africa, mixing up 99% of total export.

Senegal was also the fastest-growing in terms of the triethanolamine and its salts exports, with a CAGR of -2.2% from 2012 to 2021. Senegal (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Senegal, triethanolamine exports declined by an average annual rate of -8.7% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, dropping by -4.7% against the previous year. Over the period under review, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when the export price increased by 3.6%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

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 -6.6% per year.

Triethanolamine Imports

Imports in Western Africa

In 2021, triethanolamine imports in Western Africa declined slightly to X tons, waning by -3.7% against 2020 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 52% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, triethanolamine imports fell modestly to $X in 2021. Overall, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Senegal represented the major importing country with an import of around X tons, which resulted at 41% of total imports. Nigeria (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons), Ghana (X tons) and Togo (X tons). All these countries together took approx. 56% share of total imports. Gambia (X tons) followed a long way behind the leaders.

Senegal experienced a relatively flat trend pattern with regard to volume of imports of triethanolamine and its salts. At the same time, Gambia (+16.2%), Nigeria (+15.4%) and Ghana (+4.3%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +16.2% from 2012-2021. By contrast, Togo (-5.0%) and Cote d'Ivoire (-9.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Senegal and Ghana increased by +14, +5.6 and +4.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported triethanolamine and its salts in Western Africa, comprising 43% of total imports. The second position in the ranking was taken by Ghana ($X), with a 19% share of total imports. It was followed by Nigeria, with a 15% share.

In Senegal, triethanolamine imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+1.7% per year) and Nigeria (-0.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, picking up by 3.8% against the previous year. Over the period under review, the import price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 9%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Togo ($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 (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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