ECOWAS: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in ECOWAS

The ECOWAS aromatic alcohols market was estimated at $X in 2022, growing by X% against the previous year. The total consumption indicated a noticeable 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, consumption decreased by X% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Aromatic Alcohols Production in ECOWAS

In value terms, aromatic alcohols production expanded modestly to $X in 2022 estimated in export price. The total production indicated measured growth 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, production decreased by X% against 2018 indices. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Aromatic Alcohols Exports

Exports in ECOWAS

In 2022, shipments abroad of aromatic alcohols and their derivatives was finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, aromatic alcohols exports surged to $X in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Togo prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Ghana (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the aromatic alcohols and their derivatives exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) illustrated a downward trend over the same period. Togo (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest aromatic alcohols supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

In Togo, aromatic alcohols exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price, however, posted a slight expansion. The pace of growth appeared the most rapid in 2013 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Aromatic Alcohols Imports

Imports in ECOWAS

In 2022, imports of aromatic alcohols and their derivatives in ECOWAS surged to X tons, with an increase of X% compared with 2021 figures. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, aromatic alcohols imports declined rapidly to $X in 2022. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of aromatic alcohols and their derivatives, creating X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%). Ghana (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to aromatic alcohols imports into Nigeria stood at X%. At the same time, Benin (X%), Mali (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Mali (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aromatic alcohols importing markets in ECOWAS were Mali ($X), Nigeria ($X) and Senegal ($X), with a combined X% share of total imports.

Mali, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a pronounced decline. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mali ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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