Western Africa: Amino Resin Market 2024

Amino Resin Market Size in Western Africa

In 2023, the West African amino resin market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate modest growth. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Amino Resin Production in Western Africa

In value terms, amino resin production rose markedly to $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Amino Resin Exports

Exports in Western Africa

In 2023, the amount of amino resins exported in Western Africa skyrocketed to X tons, with an increase of X% against the year before. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, amino resin exports soared to $X in 2023. Overall, exports, however, showed a abrupt slump. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Benin dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Ghana (X tons), mixing up a X% share of total exports. Cote d'Ivoire (X kg) held a little share of total exports.

Benin was also the fastest-growing in terms of the amino resins exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Benin ($X) emerged as the largest amino resin supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Benin amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($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 export price figures.

Amino Resin Imports

Imports in Western Africa

In 2023, the amount of amino resins imported in Western Africa declined significantly to X tons, with a decrease of X% against the previous year's figure. Over the period under review, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, amino resin imports contracted rapidly to $X in 2023. Overall, imports, however, posted temperate growth. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

Nigeria (X tons) and Mauritania (X tons) represented roughly X% of total imports in 2023. Ghana (X tons) ranks next in terms of the total imports with a X% share, followed by Benin (X%). The following importers - Cote d'Ivoire (X tons) and Niger (X tons) - each accounted for a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Niger (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported amino resins in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Mauritania, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Mauritania (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, rising by X% against the previous year. In general, the import price, however, saw a perceptible contraction. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

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 Niger ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform