ECOWAS: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in ECOWAS

In 2022, after two years of growth, there was significant decline in the ECOWAS denatured ethyl alcohol market, when its value decreased by X% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted significantly in the following year.

Denatured Ethyl Alcohol Production in ECOWAS

In value terms, denatured ethyl alcohol production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Denatured Ethyl Alcohol Exports

Exports in ECOWAS

After two years of growth, overseas shipments of denatured ethyl alcohol and other denatured spirits decreased by X% to X litres in 2022. Overall, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X litres in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, denatured ethyl alcohol exports declined significantly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X litres) and Ghana (X litres) were the key exporters of denatured ethyl alcohol and other denatured spirits in 2022, amounting to near X% and X% of total exports, respectively. Nigeria (X litres) ranks next in terms of the total exports with a X% share, followed by Senegal (X%). The following exporters - Cote d'Ivoire (X litres) and Sierra Leone (X litres) - each accounted for a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Ghana ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Benin, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per litre), while Ghana ($X per litre) 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 more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports in ECOWAS

In 2022, purchases abroad of denatured ethyl alcohol and other denatured spirits decreased by X% to X litres for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X litres, and then fell sharply in the following year.

In value terms, denatured ethyl alcohol imports dropped dramatically to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X litres) was the major importer of denatured ethyl alcohol and other denatured spirits, creating X% of total imports. It was distantly followed by Cote d'Ivoire (X litres), committing an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to denatured ethyl alcohol imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported denatured ethyl alcohol and other denatured spirits in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports.

In Nigeria, denatured ethyl alcohol imports contracted by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per litre in 2022, rising by X% against the previous year. Over the period under review, the import price continues to indicate a mild expansion. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per litre in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per litre), while Nigeria stood at $X per litre.

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

Source: IndexBox Platform

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