ECOWAS: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in ECOWAS

In 2023, the ECOWAS saturated acyclic monocarboxylic acids market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in ECOWAS

In value terms, saturated acyclic monocarboxylic acids production reduced to $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2023.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in ECOWAS

In 2023, the amount of saturated acyclic monocarboxylic acids exported in ECOWAS fell dramatically to X tons, with a decrease of X% against 2022. Overall, exports faced a deep reduction. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, saturated acyclic monocarboxylic acids exports plummeted to $X in 2023. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Ghana (X tons) was the key exporter of saturated acyclic monocarboxylic acids, comprising X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Senegal (X%). The following exporters - Togo (X tons) and Nigeria (X tons) - together made up X% of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%), Togo (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal, Togo and Nigeria increased by X, X and X percentage points, respectively.

In value terms, Ghana ($X) remains the largest saturated acyclic monocarboxylic acids supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

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

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, surging by X% against the previous year. In general, the export price saw a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in ECOWAS

After two years of decline, supplies from abroad of saturated acyclic monocarboxylic acids increased by X% to X tons in 2023. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids imports dropped to $X in 2023. Total imports indicated a mild expansion from 2012 to 2023: its value 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X%. 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 dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Senegal (X tons) ranks second in terms of the total imports with an X% share, followed by Cote d'Ivoire (X%). The following importers - Togo (X tons) and Ghana (X tons) - each finished at an X% share of total imports.

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

In value terms, Nigeria ($X) constitutes the largest market for imported saturated acyclic monocarboxylic acids in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

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

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then declined in the following year.

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 Cote d'Ivoire ($X per ton), while Togo ($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 more modest paces of growth.

Source: IndexBox Platform