ECOWAS: Alcohols Market 2024

Alcohols Market Size in ECOWAS

In 2020, the ECOWAS alcohols market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2020 and is likely to see gradual growth in the near future.

Alcohols Production in ECOWAS

In value terms, alcohols production rose significantly to $X in 2020 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked in 2020 and is expected to retain growth in years to come.

Alcohols Exports

Exports in ECOWAS

In 2020, the amount of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives exported in ECOWAS skyrocketed to X tons, increasing by X% against the previous year's figure. Overall, exports, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2020, the growth of the exports remained at a lower figure.

In value terms, alcohols exports soared to $X in 2020. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2020, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2020, Senegal (X tons) represented the major exporter of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, creating X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with an X% share, followed by Togo (X%). The following exporters - Mali (X tons), Niger (X tons) and Guinea (X tons) - each reached an X% share of total exports.

From 2012 to 2020, average annual rates of growth with regard to alcohols exports from Senegal stood at X%. At the same time, Niger (X%), Mali (X%) and Togo (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2020. By contrast, Cote d'Ivoire (X%) and Guinea (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Togo (X p.p.), Mali (X p.p.), Guinea (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2020, respectively.

In value terms, Senegal ($X) remains the largest alcohols supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Niger, with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Niger (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2020, dropping by X% against the previous year. Export price indicated a tangible increase from 2012 to 2020: its price increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019, and then declined sharply in the following year.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Alcohols Imports

Imports in ECOWAS

After two years of growth, purchases abroad of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives decreased by X% to X tons in 2020. The total import volume increased at an average annual rate of X% from 2012 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

In value terms, alcohols imports declined remarkably to $X in 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the major importer of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in ECOWAS, with the volume of imports reaching X tons, which was near X% of total imports in 2020. Cote d'Ivoire (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Senegal (X tons) and Togo (X tons). All these countries together took near X% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives. At the same time, Togo (X%), Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2020. From 2012 to 2020, the share of Cote d'Ivoire, Ghana, Senegal and Togo increased by X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

From 2012 to 2020, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: 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 2020, reducing by X% against the previous year. Overall, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Senegal ($X per ton) and Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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