ECOWAS: Organic Pigments Market 2024

Organic Pigments Market Size in ECOWAS

In 2022, after two years of growth, there was significant decline in the ECOWAS organic pigments market, when its value decreased by X% to $X. In general, consumption continues to indicate a perceptible downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Organic Pigments Production in ECOWAS

In value terms, organic pigments production contracted modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Organic Pigments Exports

Exports in ECOWAS

In 2022, overseas shipments of synthetic organic coloring matter and pigments were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, organic pigments exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Mali (X tons), committing a X% share of total exports. Nigeria (X tons) and Senegal (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the export price recorded a pronounced setback. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) 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 a decline in the export price figures.

Organic Pigments Imports

Imports in ECOWAS

After five years of growth, supplies from abroad of synthetic organic coloring matter and pigments decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, organic pigments imports reached $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Nigeria was the major importer of synthetic organic coloring matter and pigments in ECOWAS, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with an X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). Togo (X tons), Mali (X tons) and Guinea (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Guinea (X%), Cote d'Ivoire (X%), Senegal (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Cote d'Ivoire increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported synthetic organic coloring matter and pigments in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, organic pigments imports expanded at an average annual rate of X% over the period from 2012-2022. 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

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: 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 2022, 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

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