ECOWAS: Starch Glue Market 2024

Starch Glue Market Size in ECOWAS

The ECOWAS starch glue market shrank to $X in 2023, leveling off at the previous year. The total consumption indicated a temperate increase from 2012 to 2023: its value 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. Based on 2023 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Starch Glue Production in ECOWAS

In value terms, starch glue production shrank to $X in 2023 estimated in export price. The total production indicated a resilient increase from 2012 to 2023: its value 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. Based on 2023 figures, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Starch Glue Exports

Exports in ECOWAS

After three years of decline, overseas shipments of glues based on starches, dextrins or other modified starches increased by X% to X tons in 2023. In general, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, starch glue exports soared to $X in 2023. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Nigeria (X tons) and Cote d'Ivoire (X tons), together constituting a X% share of total exports.

Ghana was also the fastest-growing in terms of the glues based on starches, dextrins or other modified starches exports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.) increased significantly in terms of the total exports 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, Ghana ($X) remains the largest starch glue supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Overall, the export price posted a tangible expansion. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was 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 mixed trends in the export price figures.

Starch Glue Imports

Imports in ECOWAS

After two years of decline, purchases abroad of glues based on starches, dextrins or other modified starches increased by X% to X tons in 2023. Overall, imports, however, saw a mild slump. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, starch glue imports totaled $X in 2023. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria (X tons) and Senegal (X tons) represented roughly X% of total imports in 2023. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%) and Burkina Faso (X%). The following importers - Mali (X tons) and Togo (X tons) - each accounted for an X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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

The import price in ECOWAS stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum 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 Togo ($X per ton), while Senegal ($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