ECOWAS: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in ECOWAS

After two years of decline, the ECOWAS market for palmitic acid, stearic acid, their salts and esters increased by X% to $X in 2023. Overall, consumption, however, saw a slight shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in ECOWAS

In value terms, production of palmitic acid, stearic acid, their salts and esters amounted to $X in 2023 estimated in export price. In general, production, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports in ECOWAS

Exports of palmitic acid, stearic acid, their salts and esters fell markedly to X tons in 2023, waning by X% on the previous year's figure. Overall, exports showed a sharp decline. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, exports of palmitic acid, stearic acid, their salts and esters shrank notably to $X in 2023. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2023, the growth of the exports of remained at a lower figure.

Exports by Country

Ghana dominates esters structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Togo (X tons), creating a X% share of total exports. Senegal (X tons) and Cote d'Ivoire (X tons) held a little share of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Togo experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana, Togo and Senegal increased by X, X and X percentage points, respectively.

In value terms, Ghana ($X) emerged as the largest palmitic acid, stearic acid, their salts and esters supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Ghana, exports of palmitic acid, stearic acid, their salts and esters contracted by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price enjoyed notable growth. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

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 Togo ($X per ton), while Ghana ($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 mixed trends in the export price figures.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports in ECOWAS

After two years of decline, overseas purchases of palmitic acid, stearic acid, their salts and esters increased by X% to X tons in 2023. Overall, imports, however, recorded a mild shrinkage. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters surged to $X in 2023. Over the period under review, imports, however, showed a slight contraction. The pace of growth was the most pronounced in 2020 when imports increased by X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Nigeria (X tons) was the main importer of palmitic acid, stearic acid, their salts and esters, making up X% of total imports. Senegal (X tons) held the second position in the ranking, followed by Cote d'Ivoire (X tons) and Togo (X tons). All these countries together held near X% share of total imports. Mali (X tons) took a little share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%), Mali (X%), Togo (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Senegal (X p.p.), Cote d'Ivoire (X p.p.), Togo (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported palmitic acid, stearic acid, their salts and esters in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, picking up by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat 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 Nigeria ($X per ton), while Mali ($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 more modest paces of growth.

Source: IndexBox Platform