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ECOWAS - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Formic Acid, Its Salts And Esters 2024
Market Size for Formic Acid, Its Salts And Esters in ECOWAS
The ECOWAS market for formic acid, its salts and esters contracted slightly to $X in 2023, therefore, remained relatively stable against the previous year. Overall, consumption, however, recorded a buoyant expansion. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.
Production of Formic Acid, Its Salts And Esters in ECOWAS
In value terms, production of formic acid, its salts and esters reduced slightly to $X in 2023 estimated in export price. In general, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production of growth failed to regain momentum.
Exports of Formic Acid, Its Salts And Esters
Exports in ECOWAS
In 2023, exports of formic acid, its salts and esters in ECOWAS shrank dramatically to X tons, waning by X% compared with 2022 figures. In general, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2022, and then reduced dramatically in the following year.
In value terms, exports of formic acid, its salts and esters reduced markedly to $X in 2023. Overall, exports, however, posted mild growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2022, and then declined rapidly in the following year.
Exports by Country
Cote d'Ivoire represented the largest exporter of formic acid, its salts and esters in ECOWAS, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Ghana (X tons), constituting a X% share of total exports. Senegal (X tons) held a minor share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.
In value terms, the largest formic acid, its salts and esters supplying countries in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X).
Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.
Export Prices by Country
In 2023, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($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.
Imports of Formic Acid, Its Salts And Esters
Imports in ECOWAS
In 2023, imports of formic acid, its salts and esters in ECOWAS fell rapidly to X tons, with a decrease of X% against the year before. Over the period under review, imports recorded a mild slump. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports of hit record highs at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.
In value terms, imports of formic acid, its salts and esters shrank notably to $X in 2023. In general, imports, however, showed temperate growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined remarkably in the following year.
Imports by Country
Nigeria (X tons), Senegal (X tons) and Liberia (X tons) represented roughly X% of total imports in 2023. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%). Ghana (X tons) took a minor share of total imports.
From 2012 to 2023, the biggest increases were recorded for Liberia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Senegal ($X) constitutes the largest market for imported formic acid, its salts and esters in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Liberia, with a X% share.
In Senegal, imports of formic acid, its salts and esters increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Liberia (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price, however, saw temperate growth. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced markedly in the following year.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($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 Senegal (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for formic acid, its salts and esters in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143250 - Formic acid, its salts and esters
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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