Western Africa: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Western Africa

The West African unsaturated acyclic hydrocarbons market expanded markedly to $X in 2021, with an increase of 11% against the previous year. In general, consumption, however, recorded a mild setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Production in Western Africa

In value terms, unsaturated acyclic hydrocarbons production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 23% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Unsaturated Acyclic Hydrocarbons Exports

Exports in Western Africa

In 2021, overseas shipments of unsaturated acyclic hydrocarbons decreased by -48.6% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports showed a dramatic setback. The pace of growth was the most pronounced in 2015 when exports increased by 148%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons exports amounted to $X in 2021. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 68% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X tons), Togo (X tons), Burkina Faso (X tons) and Ghana (X tons) represented the main exporter of unsaturated acyclic hydrocarbons in Western Africa, making up 98% of total export. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Togo (with a CAGR of +28.5%), while the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X) remains the largest unsaturated acyclic hydrocarbons supplier in Western Africa, comprising 70% of total exports. The second position in the ranking was held by Togo ($X), with a 20% share of total exports. It was followed by Burkina Faso, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled +8.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+44.5% per year) and Burkina Faso (-16.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, growing by 104% against the previous year. In general, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 181% against the previous year. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($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 (+13.2%), while the other leaders experienced more modest paces of growth.

Unsaturated Acyclic Hydrocarbons Imports

Imports in Western Africa

In 2021, the amount of unsaturated acyclic hydrocarbons imported in Western Africa surged to X tons, rising by 132% on the previous year. In general, imports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 151% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons imports soared to $X in 2021. Over the period under review, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2014 with an increase of 193%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was approx. 82% of total imports in 2021. It was distantly followed by Senegal (X tons), generating an 8.7% share of total imports. Togo (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to unsaturated acyclic hydrocarbons imports into Nigeria stood at +5.7%. At the same time, Togo (+128.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +128.2% from 2012-2021. By contrast, Senegal (-18.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Togo increased by +37 and +4.4 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported unsaturated acyclic hydrocarbons in Western Africa, comprising 63% of total imports. The second position in the ranking was taken by Senegal ($X), with a 9.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +2.0%. In the other countries, the average annual rates were as follows: Senegal (-19.2% per year) and Togo (+75.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, with an increase of 4.5% against the previous year. Over the period under review, the import price, however, showed a slight slump. The pace of growth appeared the most rapid in 2019 when the import price increased by 36% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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