Western Africa: Lactam Market 2024

Lactam Market Size in Western Africa

The West African lactam market expanded rapidly to $X in 2023, increasing by X% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Lactam Production in Western Africa

In value terms, lactam production amounted to $X in 2023 estimated in export price. In general, production posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

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Lactam Exports

Exports in Western Africa

Lactam exports skyrocketed to X tons in 2019, growing by X% against 2018. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2019 and are likely to see steady growth in the immediate term.

In value terms, lactam exports surged to $X in 2019. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs in 2019 and are likely to see gradual growth in years to come.

Exports by Country

In 2019, Cote d'Ivoire (X tons) was the main exporter of lactams from heterocyclic compounds in Western Africa, committing X% of total export.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of lactams from heterocyclic compounds. While the share of Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In Cote d'Ivoire, lactam exports remained relatively stable over the period from 2015-2019.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2019, with a decrease of X% against the previous year. Overall, the export price, however, saw significant growth. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2019, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2015 to 2019, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Lactam Imports

Imports in Western Africa

Lactam imports surged to X tons in 2023, jumping by X% against the previous year. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, lactam imports rose remarkably to $X in 2023. Total imports indicated a measured 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 increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Nigeria was the key importer of lactams from heterocyclic compounds in Western Africa, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. It was distantly followed by Togo (X tons), mixing up a X% share of total imports. Cote d'Ivoire (X tons) and Senegal (X tons) held a little share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Togo (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 2012-2023. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Senegal (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lactam importing markets in Western Africa were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X), with a combined X% share of total imports.

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform