Ghana: Bentonite Market 2024

Bentonite Market Size in Ghana

The Ghanian bentonite market amounted to $X in 2022, increasing by 1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a pronounced reduction. Bentonite consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Bentonite Exports

Exports from Ghana

In 2022, shipments abroad of bentonite decreased by -87.5% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 3,200%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, bentonite exports shrank rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 2,168% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for bentonite exports from Ghana, accounting for a 77% share of total exports. Moreover, bentonite exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire amounted to +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+73.3% per year) and Sierra Leone (-11.8% per year).

In value terms, the largest markets for bentonite exported from Ghana were Burkina Faso ($X), Cote d'Ivoire ($X) and Sierra Leone ($X), together accounting for 92% of total exports.

Among the main countries of destination, Burkina Faso, with a CAGR of +72.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average bentonite export price amounted to $X per ton, with a decrease of -13.4% against the previous year. In general, the export price continues to indicate a pronounced contraction. The growth pace was the most rapid in 2017 when the average export price increased by 3.4%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+0.6%), while the prices for the other major destinations experienced a decline.

Bentonite Imports

Imports into Ghana

In 2022, bentonite imports into Ghana totaled X tons, increasing by 1.9% on 2021 figures. Over the period under review, imports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2018 when imports increased by 115% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, bentonite imports reached $X in 2022. Overall, imports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 115%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of bentonite to Ghana, accounting for a 65% share of total imports. Moreover, bentonite imports from India exceeded the figures recorded by the second-largest supplier, the UK (X tons), ninefold. South Africa (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+19.0% per year) and South Africa (+8.4% per year).

In value terms, the largest bentonite suppliers to Ghana were India ($X), the United States ($X) and South Africa ($X), with a combined 61% share of total imports.

India, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bentonite import price stood at $X per ton in 2022, declining by -1.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 48%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+30.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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