Western Africa: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Western Africa

The West African polyethylene glycol wax market reduced to $X in 2022, waning by X% against the previous year. In general, consumption, however, saw a prominent increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Polyethylene Glycol Wax Production in Western Africa

In value terms, polyethylene glycol wax production fell to $X in 2022 estimated in export price. Overall, production, however, showed strong growth. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports in Western Africa

In 2022, approx. X tons of artificial and prepared waxes of polyethylene glycol were exported in Western Africa; declining by X% on the year before. Overall, exports showed a precipitous setback. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, polyethylene glycol wax exports declined remarkably to $X in 2022. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

Nigeria prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Senegal (X kg), making up an X% share of total exports. Benin (X kg) followed a long way behind the leaders.

Exports from Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) and Benin (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. 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 ($X) remains the largest polyethylene glycol wax supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Nigeria, polyethylene glycol wax exports shrank by an average annual rate of X% over the period from 2012-2022. 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 2022, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($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 export price figures.

Polyethylene Glycol Wax Imports

Imports in Western Africa

After two years of growth, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by X% to X tons in 2022. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports shrank markedly to $X in 2022. In general, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%) and Ghana (X%).

From 2012 to 2022, average annual rates of growth with regard to polyethylene glycol wax imports into Nigeria stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Senegal 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 ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

In Nigeria, polyethylene glycol wax imports contracted by an average annual rate of X% over the period from 2012-2022. 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 2022, with an increase of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($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 more modest paces of growth.

Source: IndexBox Platform

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