ECOWAS: Heterocyclic Compound Market 2024

Heterocyclic Compound Market Size in ECOWAS

The ECOWAS heterocyclic compound market declined slightly to $X in 2023, remaining constant against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Heterocyclic Compound Production in ECOWAS

In value terms, heterocyclic compound production dropped to $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Heterocyclic Compound Exports

Exports in ECOWAS

In 2023, after two years of decline, there was significant growth in overseas shipments of heterocyclic compounds, when their volume increased by X% to X tons. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, heterocyclic compound exports soared to $X in 2023. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria represented the major exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Senegal (X tons), committing a X% share of total exports. Benin (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the heterocyclic compounds exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Benin (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Senegal (X p.p.) and Benin (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest heterocyclic compound supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Benin (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price showed a temperate increase. The pace of growth was the most pronounced in 2016 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2023, the export prices remained at a somewhat lower figure.

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 Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Heterocyclic Compound Imports

Imports in ECOWAS

Heterocyclic compound imports shrank to X tons in 2023, declining by X% against the previous year's figure. Over the period under review, imports showed a mild descent. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, heterocyclic compound imports expanded notably to $X in 2023. Overall, imports, however, showed temperate growth. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of heterocyclic compound imports in 2023 were Nigeria (X tons), Benin (X tons) and Cote d'Ivoire (X tons), together reaching X% of total import. Burkina Faso (X tons), Senegal (X tons), Ghana (X tons) and Guinea (X tons) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest heterocyclic compound importing markets in ECOWAS were Cote d'Ivoire ($X), Benin ($X) and Nigeria ($X), together comprising X% of total imports.

Among the main importing countries, Benin, 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, with an increase of X% against the previous year. Import price indicated a remarkable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, heterocyclic compound import price increased by X% against 2021 indices. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, 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 Guinea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform