Western Africa: Organic Pigments Market 2024

Organic Pigments Market Size in Western Africa

In 2023, the West African organic pigments market decreased by X% to $X for the first time since 2017, thus ending a five-year rising trend. Overall, consumption saw a slight reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Organic Pigments Production in Western Africa

In value terms, organic pigments production amounted to $X in 2023 estimated in export price. In general, production showed a pronounced slump. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Organic Pigments Exports

Exports in Western Africa

In 2023, the amount of synthetic organic coloring matter and pigments exported in Western Africa soared to X tons, rising by X% compared with 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, organic pigments exports skyrocketed to $X in 2023. In general, exports, however, showed a mild decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. Mali (X tons), Senegal (X tons) and Liberia (X tons) held a minor share of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of synthetic organic coloring matter and pigments. At the same time, Mali (X%), Senegal (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. While the share of Mali (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest organic pigments supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Cote d'Ivoire, organic pigments exports decreased 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: Mali (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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 Senegal ($X per ton), while Liberia ($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.

Organic Pigments Imports

Imports in Western Africa

In 2023, purchases abroad of synthetic organic coloring matter and pigments decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Total imports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then declined rapidly in the following year.

In value terms, organic pigments imports shrank remarkably to $X in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Nigeria (X tons) was the largest importer of synthetic organic coloring matter and pigments, comprising X% of total imports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Togo (X tons) and Senegal (X tons), together generating a X% share of total imports. The following importers - Mauritania (X tons) and Guinea (X tons) - each reached a X% share of total imports.

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

In value terms, Nigeria ($X) constitutes the largest market for imported synthetic organic coloring matter and pigments in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

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

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, stabilizing at the previous year. In general, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2023, 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 Cote d'Ivoire ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform