Report Update Nov 1, 2024

Ghana - Mica - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Mica Market 2024

Mica Market Size in Ghana

In 2022, the Ghanian mica market increased by 1% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a mild descent. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Mica Production in Ghana

In value terms, mica production dropped to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Mica Exports

Exports from Ghana

In 2018, the amount of mica exported from Ghana totaled X kg, remaining constant against 2017. Overall, exports faced a dramatic contraction. The smallest decline of 99.9% was in 2014. The exports peaked at X tons in 2013; however, from 2014 to 2018, the exports failed to regain momentum.

In value terms, mica exports totaled $X in 2018. In general, exports faced a abrupt downturn. The smallest decline of 99.9% was in 2014. The exports peaked at $X in 2013; however, from 2014 to 2018, the exports remained at a lower figure.

Exports by Country

Congo (X kg) was the main destination for mica exports from Ghana, accounting for a approx. 100% share of total exports.

From 2013 to 2018, the average annual rate of growth in terms of volume to Congo was relatively modest.

From 2013 to 2018, the average annual growth rate of value to Congo was relatively modest.

Export Prices by Country

The average mica export price stood at $X per ton in 2018, approximately equating the previous year. Overall, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the average export price decreased by 99.9%. Over the period under review, the average export prices attained the peak figure in 2018 and is likely to see steady growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Congo.

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

Mica Imports

Imports into Ghana

In 2022, after three years of decline, there was significant growth in overseas purchases of mica, when their volume increased by 1,140% to X kg. Overall, imports, however, recorded a dramatic contraction. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, mica imports soared to $X in 2022. In general, imports, however, saw a precipitous shrinkage. Over the period under review, imports reached 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 kg) was the main supplier of mica to Ghana, accounting for a 95% share of total imports. Moreover, mica imports from India exceeded the figures recorded by the second-largest supplier, China (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-46.2% per year) and Nigeria (-44.7% per year).

In value terms, India ($X) constituted the largest supplier of mica to Ghana, comprising 91% of total imports. The second position in the ranking was held by Nigeria ($X), with an 8.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (-40.3% per year) and China (-54.6% per year).

Import Prices by Country

In 2022, the average mica import price amounted to $X per ton, reducing by -22.1% against the previous year. Overall, the import price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 an increase of 23%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 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 Nigeria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+66.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for mica in the world?

The countries with the highest volumes of in 2021 were China, India and Madagascar, with a combined 91% share of global consumption.

What are the largest producers of mica in the world?

India remains the largest mica producing country worldwide, comprising approx. 65% of total volume. Moreover, mica production in India exceeded the figures recorded by the second-largest producer, Madagascar, twofold. The third position in this ranking was occupied by Brazil, with a 2.7% share.

What are the leading suppliers of mica to Ghana?

In value terms, India constituted the largest supplier of mica to Ghana, comprising 82% of total imports. The second position in the ranking was occupied by China $219), with a 7.1% share of total imports.

What is the average export price for mica in Ghana?

In 2018, the average mica export price amounted to $2,378 per ton, therefore, remained relatively stable against the previous year.

What is the average import price for mica in Ghana?

The average mica import price stood at $5,082 per ton in 2021, with an increase of 7.4% against the previous year.

This report provides an in-depth analysis of the mica market in Ghana. 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:

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023