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Report ECOWAS - Biodiesel - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 18, 2024

ECOWAS - Biodiesel - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Biodiesel Market 2024

Biodiesel Market Size in ECOWAS

In 2023, the ECOWAS biodiesel market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, posted pronounced growth. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.

Biodiesel Production in ECOWAS

In value terms, biodiesel production surged to $X in 2023 estimated in export price. Over the period under review, production posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs in 2023 and is expected to retain growth in years to come.

Biodiesel Exports

Exports in ECOWAS

In 2023, approx. X tons of biodiesel were exported in ECOWAS; rising by X% on the previous year's figure. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, biodiesel exports soared to $X in 2023. Overall, exports saw significant growth. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in years to come.

Exports by Country

The biggest shipments were from Benin (X tons), together amounting to X% of total export.

Benin was also the fastest-growing in terms of the biodiesel exports, with a CAGR of X% from 2013 to 2023. From 2013 to 2023, the share of Benin increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2013 to 2023, the average annual growth rate of value in Benin amounted to X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2013 to 2023, the rate of growth in terms of prices for Benin amounted to X% per year.

Biodiesel Imports

Imports in ECOWAS

In 2023, biodiesel imports in ECOWAS fell markedly to X tons, shrinking by X% on the year before. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, biodiesel imports shrank dramatically to $X in 2023. Overall, imports, however, posted slight growth. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Cote d'Ivoire (X tons) was the largest importer of biodiesel, generating X% of total imports. Benin (X tons) took the second position in the ranking, followed by Ghana (X tons) and Togo (X tons). All these countries together held approx. X% share of total imports. Burkina Faso (X tons) followed a long way behind the leaders.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of imports of biodiesel. At the same time, Burkina Faso (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Togo experienced a relatively flat trend pattern. By contrast, Benin (X%) illustrated a downward trend over the same period. Benin (X p.p.), Ghana (X p.p.), Togo (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the largest biodiesel importing markets in ECOWAS were Ghana ($X), Togo ($X) and Benin ($X), with a combined X% share of total imports. Cote d'Ivoire and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the biodiesel market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20595997 - Biofuels (diesel substitute)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in ECOWAS, split by region and country
  • Trade (exports and imports) in ECOWAS
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Niger
    • Nigeria
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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