Western Africa: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Western Africa

In 2022, the West African non-aqueous paint and varnish market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Western Africa

In value terms, non-aqueous paint and varnish production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports in Western Africa

In 2022, approx. X tons of paints and varnishes dispersed or dissolved in a non-aqueous medium were exported in Western Africa; growing by X% on the previous year. Overall, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, non-aqueous paint and varnish exports skyrocketed to $X in 2022. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the major exporter of paints and varnishes dispersed or dissolved in a non-aqueous medium in Western Africa, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Ghana (X tons), creating a X% share of total exports. Senegal (X tons) and Mali (X tons) held a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the paints and varnishes dispersed or dissolved in a non-aqueous medium exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%), Mali (X%) and Ghana (X%) displayed positive paces of growth. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest non-aqueous paint and varnish supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Cote d'Ivoire, non-aqueous paint and varnish exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced a decline in the export price figures.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports in Western Africa

In 2022, supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, non-aqueous paint and varnish imports reduced to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Nigeria (X tons), Ghana (X tons) and Liberia (X tons) was the main importer of paints and varnishes dispersed or dissolved in a non-aqueous medium in Western Africa, comprising X% of total import. Togo (X tons) held the next position in the ranking, followed by Senegal (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons). All these countries together held near X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X), Nigeria ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Senegal, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Togo, 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 2022, approximately mirroring the previous year. Over the period under review, the import price saw a mild descent. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices failed to regain momentum.

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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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