Report Update Nov 1, 2024

ECOWAS - Diamonds (Industrial) - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Industrial Diamond Market 2024

Industrial Diamond Market Size in ECOWAS

After four years of decline, the ECOWAS industrial diamond market increased by 2.1% to $X in 2021. Overall, consumption continues to indicate a perceptible expansion. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in ECOWAS

In value terms, industrial diamond production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a measured expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 285%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Industrial Diamond Exports

Exports in ECOWAS

Industrial diamond exports skyrocketed to X tons in 2021, surging by 106% compared with the previous year. In general, exports recorded modest growth. The most prominent rate of growth was recorded in 2017 when exports increased by 244% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial diamond exports surged to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 420%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sierra Leone was the main exporting country with an export of around X tons, which accounted for 63% of total exports. It was distantly followed by Guinea (X tons), making up a 36% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sierra Leone (with a CAGR of +11.4%).

In value terms, the largest industrial diamond supplying countries in ECOWAS were Guinea ($X) and Sierra Leone ($X).

Guinea, with a CAGR of +5.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per kg in 2021, rising by 21% against the previous year. In general, the export price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2017 when the export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Guinea ($X per kg), while Sierra Leone amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (-0.4%).

Industrial Diamond Imports

Imports in ECOWAS

In 2018, after two years of decline, there was significant decline in overseas purchases of diamonds (industrial), when their volume decreased by -93.2% to X kg. Overall, imports continue to indicate a precipitous descent. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2018, imports failed to regain momentum.

In value terms, industrial diamond imports dropped dramatically to $X in 2018. Over the period under review, imports showed a precipitous contraction. The level of import peaked at $X in 2013; however, from 2014 to 2018, imports failed to regain momentum.

Imports by Country

Senegal (X kg) represented roughly 100% of total imports in 2018.

Senegal experienced a relatively flat trend pattern with regard to volume of imports of diamonds (industrial). Senegal (+99 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported diamonds (industrial) in ECOWAS.

In Senegal, industrial diamond imports remained relatively stable over the period from 2013-2018.

Import Prices by Country

The import price in ECOWAS stood at $X per kg in 2018, rising by 232% against the previous year. Overall, the import price showed significant growth. The growth pace was the most rapid in 2016 an increase of 232% against the previous year. As a result, import price attained the peak level of $X per kg; afterwards, it flattened through to 2018.

As there is only one major supplying country, the average price level is determined by prices for Senegal.

From 2013 to 2018, the rate of growth in terms of prices for Senegal amounted to 0.0% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the industrial diamond market 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 08992200 - Industrial diamonds, unworked or simply sawn, cleaved or bruted, pumice stone, emery, natural corundum, natural garnet and other natural abrasives

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023