Western Africa: Lubricant Additives Market 2024

Lubricant Additives Market Size in Western Africa

The West African lubricant additives market fell slightly to $X in 2022, declining by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Lubricant Additives Production in Western Africa

In value terms, lubricant additives production rose notably to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Lubricant Additives Exports

Exports in Western Africa

In 2022, approx. X tons of prepared additives for mineral oils were exported in Western Africa; which is down by X% on 2021. In general, exports showed a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, lubricant additives exports contracted rapidly to $X in 2022. Over the period under review, exports continue to indicate a mild decline. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Nigeria (X tons), mixing up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lubricant additives exports from Senegal stood at X%. At the same time, Nigeria (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Senegal and Nigeria increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest lubricant additives supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal was relatively modest.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Lubricant Additives Imports

Imports in Western Africa

In 2022, supplies from abroad of prepared additives for mineral oils decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lubricant additives imports dropped to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the key importing country with an import of around X tons, which resulted at X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%) and Cote d'Ivoire (X%). Guinea (X tons), Togo (X tons) and Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lubricant additives imports into Nigeria stood at X%. At the same time, Togo (X%), Guinea (X%), Mali (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. Ghana (X p.p.), Guinea (X p.p.), Togo (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported prepared additives for mineral oils in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, lubricant additives imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, 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% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ghana ($X per ton) and Senegal ($X per ton), while Mali ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Source: IndexBox Platform

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