ECOWAS: Crude Glycerol Market 2024

Crude Glycerol Market Size in ECOWAS

The ECOWAS crude glycerol market shrank to $X in 2022, waning by X% against the previous year. In general, consumption, however, recorded a prominent expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Crude Glycerol Production in ECOWAS

In value terms, crude glycerol production contracted modestly to $X in 2022 estimated in export price. In general, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Crude Glycerol Exports

Exports in ECOWAS

In 2022, approx. X tons of crude glycerol, glycerine waters and lyes were exported in ECOWAS; with a decrease of X% against 2021 figures. Over the period under review, exports saw a pronounced reduction. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude glycerol exports fell significantly to $X in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) represented the major exporter of crude glycerol, glycerine waters and lyes, constituting X% of total exports. Senegal (X kg) took the second position in the ranking, followed by Cote d'Ivoire (X kg). All these countries together took near X% share of total exports. Ghana (X kg) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the crude glycerol, glycerine waters and lyes exports, with a CAGR of X% from 2012 to 2022. Senegal (X%), Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest crude glycerol supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), with a combined X% share of total exports.

Among the main exporting countries, Nigeria, 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, dropping by X% against the previous year. Export price indicated modest growth 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, crude glycerol export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Crude Glycerol Imports

Imports in ECOWAS

In 2022, the amount of crude glycerol, glycerine waters and lyes imported in ECOWAS surged to X tons, growing by X% on the previous year. Over the period under review, imports, however, saw a abrupt decrease. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, crude glycerol imports soared to $X in 2022. In general, imports, however, saw a abrupt curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Niger (X tons), mixing up a X% share of total imports. Ghana (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%) displayed positive paces of growth. Moreover, Niger 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. From 2012 to 2022, the share of Nigeria and Niger increased by X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported crude glycerol, glycerine waters and lyes in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Niger (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated mild growth 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, crude glycerol import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Niger ($X per ton) was 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 mixed trends in the import price figures.

Source: IndexBox Platform