Western Africa: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Western Africa

In 2022, the West African market for oil and water paints and varnishes decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated a pronounced increase from 2012 to 2022: its value 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, consumption increased by X% against 2017 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted in the following year.

Production of Oil And Water Paints And Varnishes in Western Africa

In value terms, production of oil and water paints and varnishes stood at $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production of growth remained at a lower figure.

Exports of Oil And Water Paints And Varnishes

Exports in Western Africa

In 2022, overseas shipments of oil and water paints and varnishes decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, exports of oil and water paints and varnishes surged to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Cote d'Ivoire represented the largest exporter of oil and water paints and varnishes in Western Africa, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X tons), creating an X% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest oil and water paints and varnishes supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.

In Cote d'Ivoire, exports of oil and water paints and varnishes expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Imports of Oil And Water Paints And Varnishes

Imports in Western Africa

After four years of growth, overseas purchases of oil and water paints and varnishes decreased by X% to X tons in 2022. In general, imports, however, saw a modest increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes dropped dramatically to $X in 2022. Overall, imports showed a perceptible curtailment. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) and Senegal (X tons) represented the largest importers of oil and water paints and varnishes in Western Africa, together committing X% of total imports. Burkina Faso (X tons) ranks next in terms of the total imports with a X% share, followed by Ghana (X%), Niger (X%) and Gambia (X%). Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, 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 ($X), Ghana ($X) and Gambia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal, Burkina Faso, Niger and Mali lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Niger, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, waning by X% against the previous year. In general, the import price showed a perceptible reduction. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :