ECOWAS: Epoxide Resin Market 2024

Epoxide Resin Market Size in ECOWAS

The ECOWAS epoxide resin market expanded notably to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a measured increase from 2012 to 2023: its value 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. Based on 2023 figures, consumption increased by X% against 2019 indices. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in years to come.

Epoxide Resin Production in ECOWAS

In value terms, epoxide resin production expanded notably to $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value 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. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Epoxide Resin Exports

Exports in ECOWAS

In 2023, epoxide resin exports in ECOWAS dropped markedly to X tons, declining by X% compared with 2022 figures. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, epoxide resin exports expanded sharply to $X in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons), Liberia (X tons) and Ghana (X tons) represented roughly X% of total exports in 2023. Cote d'Ivoire (X tons) ranks next in terms of the total exports with a X% share, followed by Burkina Faso (X%). The following exporters - Senegal (X kg) and Mali (X kg) - each finished at a X% share of total exports.

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

In value terms, the largest epoxide resin supplying countries in ECOWAS were Ghana ($X), Liberia ($X) and Cote d'Ivoire ($X), together comprising X% of total exports.

Ghana, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Epoxide Resin Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in supplies from abroad of epoxide resins, which increased by X% to X tons in 2023. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in years to come.

In value terms, epoxide resin imports skyrocketed to $X in 2023. Over the period under review, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

Ghana (X tons) and Nigeria (X tons) prevails in imports structure, together creating X% of total imports. Senegal (X tons) took the next position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took near X% share of total imports.

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

In value terms, the largest epoxide resin importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together comprising X% of total imports.

Among the main importing countries, Ghana, with a CAGR of X%, recorded 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

The import price in ECOWAS stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform