ECOWAS: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in ECOWAS

The ECOWAS ethyl acetate market contracted to $X in 2023, declining by X% against the previous year. In general, consumption enjoyed a measured increase. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Ethyl Acetate Production in ECOWAS

In value terms, ethyl acetate production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports in ECOWAS

In 2023, shipments abroad of ethyl acetate decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. In general, exports, however, posted a significant increase. 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 2023, the growth of the exports failed to regain momentum.

In value terms, ethyl acetate exports reduced sharply to $X in 2023. Overall, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Mali (X tons), mixing up a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the ethyl acetate exports, with a CAGR of X% from 2012 to 2023. Mali (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Mali (X p.p.) displayed negative dynamics.

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

In Cote d'Ivoire, ethyl acetate exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%).

Ethyl Acetate Imports

Imports in ECOWAS

After two years of decline, supplies from abroad of ethyl acetate increased by X% to X tons in 2023. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, ethyl acetate imports declined notably to $X in 2023. In general, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Ghana (X tons), achieving a X% share of total imports. The following importers - Togo (X tons) and Cote d'Ivoire (X tons) - each reached an X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Togo (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Ghana (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported ethyl acetate in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated slight growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then shrank markedly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Nigeria ($X per ton), while Togo ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform