Report Update Apr 1, 2024

Western Africa - Styrene - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Styrene Market 2024

Styrene Market Size in Western Africa

The West African styrene market stood at $X in 2021, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Styrene Production in Western Africa

In value terms, styrene production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 16%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Styrene Exports

Exports in Western Africa

In 2016, shipments abroad of styrene increased by 18,777% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, faced a dramatic decline. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2016, the exports failed to regain momentum.

In value terms, styrene exports surged to $X in 2016. In general, exports, however, recorded a precipitous decrease. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2016, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Mauritania (X tons), together reaching 100% of total export.

Mauritania experienced a relatively flat trend pattern with regard to volume of exports of styrene. From 2012 to 2016, the share of Mauritania increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2016, the average annual rate of growth in terms of value in Mauritania was relatively modest.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2016, which is down by -23.3% against the previous year. In general, the export price recorded a abrupt descent. The growth pace was the most rapid in 2013 when the export price increased by 24%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2016, 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 Mauritania.

From 2012 to 2016, the rate of growth in terms of prices for Mauritania amounted to 0.0% per year.

Styrene Imports

Imports in Western Africa

In 2021, approx. X tons of styrene were imported in Western Africa; picking up by 42% against 2020. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 182%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, styrene imports skyrocketed to $X in 2021. Overall, imports recorded resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 111% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was approx. 92% of total imports in 2021. It was distantly followed by Mali (X tons), achieving a 6.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to styrene imports into Nigeria stood at +7.8%. At the same time, Mali (+27.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +27.2% from 2012-2021. Mali (+5.2 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -5.8% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported styrene in Western Africa, comprising 96% of total imports. The second position in the ranking was held by Mali ($X), with a 3% share of total imports.

In Nigeria, styrene imports expanded at an average annual rate of +6.8% over the period from 2012-2021.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 43% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for styrene in Western Africa?

The countries with the highest volumes of consumption in 2021 were Ghana, Burkina Faso and Niger, together accounting for 54% of total consumption. These countries were followed by Mauritania, Togo, Sierra Leone and Gambia, which together accounted for a further 45%.

What are the largest producers of styrene in Western Africa?

The countries with the highest volumes of production in 2021 were Ghana, Burkina Faso and Niger, together accounting for 54% of total production. Mauritania, Togo, Sierra Leone and Gambia lagged somewhat behind, together comprising a further 46%.

What are the leading importers of styrene in Western Africa?

In value terms, Nigeria constitutes the largest market for imported styrene in Western Africa, comprising 96% of total imports. The second position in the ranking was taken by Mali, with a 3% share of total imports.

What is the average export price for styrene in Western Africa?

In 2016, the export price in Western Africa amounted to $1,186 per ton, dropping by -23.3% against the previous year.

What is the average import price for styrene in Western Africa?

The import price in Western Africa stood at $1,561 per ton in 2021, picking up by 43% against the previous year.

This report provides an in-depth analysis of the styrene market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20141250 - Styrene

Country coverage:

Benin
Burkina Faso
Cabo Verde
Cote d'Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023