Africa: Fluorspar Market 2024

Fluorspar Market Size in Africa

In 2021, the African fluorspar market decreased by -3.5% to $X, falling for the second year in a row after four years of growth. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Fluorspar Production in Africa

In value terms, fluorspar production reached $X in 2021 estimated in export price. Over the period under review, production saw a noticeable reduction. The pace of growth appeared the most rapid in 2018 with an increase of 44% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Fluorspar Exports

Exports in Africa

In 2021, shipments abroad of fluorspar increased by 2.2% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2020 when exports increased by 34% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fluorspar exports expanded modestly to $X in 2021. Over the period under review, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 26% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, South Africa (X tons) was the largest exporter of fluorspar, mixing up 60% of total exports. Namibia (X tons) ranks second in terms of the total exports with a 20% share, followed by Morocco (15%). The following exporters - Kenya (X tons) and Nigeria (X tons) - together made up 4.7% of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of fluorspar. At the same time, Nigeria (+54.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +54.0% from 2012-2021. By contrast, Namibia (-3.3%), Morocco (-3.7%) and Kenya (-23.7%) illustrated a downward trend over the same period. South Africa (+14 p.p.) and Nigeria (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Kenya saw its share reduced by -17.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorspar supplying countries in Africa were South Africa ($X), Namibia ($X) and Morocco ($X), together accounting for 96% of total exports. Kenya and Nigeria lagged somewhat behind, together accounting for a further 3.8%.

Nigeria, with a CAGR of +31.6%, saw 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 a decline in the exports figures.

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by 40% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Namibia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+2.2%), while the other leaders experienced a decline in the export price figures.

Fluorspar Imports

Imports in Africa

In 2021, the amount of fluorspar imported in Africa contracted to X tons, reducing by -11.7% against 2020 figures. Overall, imports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, fluorspar imports shrank to $X in 2021. In general, imports showed a slight downturn. The most prominent rate of growth was recorded in 2019 with an increase of 49% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Tunisia (X tons) was the key importer of fluorspar, achieving 76% of total imports. It was distantly followed by Egypt (X tons), comprising a 17% share of total imports. The following importers - Algeria (X tons) and Ethiopia (X tons) - each amounted to a 4.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to fluorspar imports into Tunisia stood at -4.3%. At the same time, Ethiopia (+35.2%), Algeria (+5.5%) and Egypt (+5.2%) displayed positive paces of growth. Moreover, Ethiopia emerged as the fastest-growing importer imported in Africa, with a CAGR of +35.2% from 2012-2021. From 2012 to 2021, the share of Egypt and Ethiopia increased by +9.7 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Tunisia ($X) constitutes the largest market for imported fluorspar in Africa, comprising 71% of total imports. The second position in the ranking was held by Egypt ($X), with a 24% share of total imports. It was followed by Algeria, with a 2.1% share.

In Tunisia, fluorspar imports contracted by an average annual rate of -2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Egypt (+6.0% per year) and Algeria (+3.0% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, therefore, remained relatively stable against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluorspar import price decreased by -4.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 42%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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