ECOWAS: Toluene Market 2024

Toluene Market Size in ECOWAS

The ECOWAS toluene market stood at $X in 2022, with an increase of X% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Toluene Production in ECOWAS

In value terms, toluene production rose significantly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Toluene Exports

Exports in ECOWAS

In 2022, approx. X tons of toluene were exported in ECOWAS; dropping by X% against the previous year. Overall, exports, however, showed a noticeable increase. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, toluene exports fell remarkably to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the major exporter of toluene, achieving X% of total exports. Senegal (X kg) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%). Burkina Faso (X kg) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Burkina Faso experienced a relatively flat trend pattern. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (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 ($X) remains the largest toluene supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

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

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. In general, the export price saw a slight increase. The pace of growth was the most pronounced in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Toluene Imports

Imports in ECOWAS

Toluene imports surged to X tons in 2022, increasing by X% against 2021 figures. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, toluene imports skyrocketed to $X in 2022. In general, imports showed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the key importing country with an import of around X tons, which resulted at X% of total imports. Cote d'Ivoire (X tons) held the second position in the ranking, distantly followed by Ghana (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

In Nigeria, toluene imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, saw a slight curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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