Western Africa: Alcohols Market 2024

Alcohols Market Size in Western Africa

In 2020, the West African alcohols market increased by X% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2020; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked in 2020 and is likely to see steady growth in years to come.

Alcohols Production in Western Africa

In value terms, alcohols production rose markedly to $X in 2020 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level in 2020 and is likely to see steady growth in the near future.

Alcohols Exports

Exports in Western Africa

Alcohols exports soared to X tons in 2020, jumping by X% compared with 2019. In general, exports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2020, the growth of the exports remained at a lower figure.

In value terms, alcohols exports surged to $X in 2020. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2020, the growth of the exports remained at a lower figure.

Exports by Country

Senegal represented the key exporter of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in Western Africa, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2020. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Togo (X tons). All these countries together held approx. X% share of total exports. The following exporters - Mali (X tons), Niger (X tons) and Guinea (X tons) - each reached an X% share of total exports.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2020. At the same time, Niger (X%), Mali (X%) and Togo (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2020. By contrast, Cote d'Ivoire (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2020, the share of Senegal, Togo, Mali, Guinea and Niger increased by X, X, X, X and X percentage points, respectively.

In value terms, Senegal ($X) remains the largest alcohols supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Niger, with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of value in Senegal amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Niger (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2020, falling by X% against the previous year. Overall, the export price, however, saw a moderate increase. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2020, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2020, 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.

Alcohols Imports

Imports in Western Africa

After two years of growth, supplies from abroad of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives decreased by X% to X tons in 2020. The total import volume increased at an average annual rate of X% from 2012 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

In value terms, alcohols imports reduced sharply to $X in 2020. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2020, imports failed to regain momentum.

Imports by Country

In 2020, Nigeria (X tons) was the main importer of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, committing X% of total imports. 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%), Senegal (X%) and Togo (X%).

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives. At the same time, Togo (X%), Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2020. While the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.), Senegal (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2020, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

In Nigeria, alcohols imports declined by an average annual rate of X% over the period from 2012-2020. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2020, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a pronounced downturn. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2020, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Senegal ($X per ton) and Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2020, 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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