Western Africa: Nucleic Acid Market 2024

Nucleic Acid Market Size in Western Africa

The West African nucleic acid market fell to $X in 2023, dropping by X% against the previous year. In general, consumption, however, saw a prominent increase. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Nucleic Acid Production in Western Africa

In value terms, nucleic acid production reduced to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a lower figure.

Nucleic Acid Exports

Exports in Western Africa

After five years of decline, shipments abroad of nucleic acids and their salts increased by X% to X kg in 2023. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, nucleic acid exports skyrocketed to $X in 2023. Over the period under review, exports, however, showed a slight setback. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Guinea (X kg) and Sierra Leone (X kg) were the key exporters of nucleic acids and their salts in 2023, finishing at near X% and X% of total exports, respectively. Cote d'Ivoire (X kg) ranks next in terms of the total exports with a X% share, followed by Ghana (X%). Senegal (X kg), Niger (X kg) and Nigeria (X kg) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nucleic acid supplying countries in Western Africa were Cote d'Ivoire ($X), Guinea ($X) and Sierra Leone ($X), with a combined X% share of total exports.

Among the main exporting countries, Guinea, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per ton), while Ghana ($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 more modest paces of growth.

Nucleic Acid Imports

Imports in Western Africa

In 2023, approx. X tons of nucleic acids and their salts were imported in Western Africa; reducing by X% on the year before. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, nucleic acid imports dropped sharply to $X in 2023. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria represented the key importer of nucleic acids and their salts in Western Africa, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons), together committing a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to nucleic acid imports into Nigeria stood at X%. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. While the share of Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

Senegal, 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

The import price in Western Africa stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price, however, showed perceptible growth. The growth pace was the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then fell in the following year.

Average prices varied somewhat 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 Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform