Western Africa: Monophenols Market 2024

Monophenols Market Size in Western Africa

The West African monophenols market expanded modestly to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Monophenols Production in Western Africa

In value terms, monophenols production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Monophenols Exports

Exports in Western Africa

In 2023, shipments abroad of monophenols was finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, monophenols exports reduced modestly to $X in 2023. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank in the following year.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the monophenols exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire (X%) illustrated a downward trend over the same period. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal stood at X%.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

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 totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Monophenols Imports

Imports in Western Africa

In 2023, purchases abroad of monophenols was finally on the rise to reach X tons after two years of decline. Overall, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, monophenols imports soared to $X in 2023. In general, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the main importer of monophenols in Western Africa, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. Senegal (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together held near X% share of total imports.

Nigeria was also the fastest-growing in terms of the monophenols imports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. Nigeria (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the largest monophenols importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), together comprising X% 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price showed a pronounced setback. 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 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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 Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform