ECOWAS: Acetone Market 2024

Acetone Market Size in ECOWAS

The ECOWAS acetone market rose significantly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Acetone Production in ECOWAS

In value terms, acetone production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate a slight increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Acetone Exports

Exports in ECOWAS

In 2022, approx. X tons of acetone were exported in ECOWAS; shrinking by X% compared with the previous year's figure. In general, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, acetone exports dropped rapidly to $X in 2022. Overall, exports, however, showed modest growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Ghana (X tons), generating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price continues to indicate a slight downturn. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Acetone Imports

Imports in ECOWAS

Acetone imports shrank dramatically to X tons in 2022, with a decrease of X% against the previous year. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, acetone imports contracted notably to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the main importer of acetone, constituting X% of total imports. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together committing a X% share of total imports. Senegal (X tons) held a little share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of acetone. At the same time, Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported acetone in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, acetone imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acetone import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Senegal ($X per ton) and Nigeria ($X per ton), while Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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