Ghana: Market for Refractory Products of Siliceous or Diatomite Earths 2024

Market Size for Refractory Products of Siliceous or Diatomite Earths in Ghana

In 2021, the Ghanian market for refractory products of siliceous or diatomite earths was finally on the rise to reach $X after two years of decline. Over the period under review, consumption posted a pronounced increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Refractory Products of Siliceous or Diatomite Earths in Ghana

In value terms, production of refractory products of siliceous or diatomite earths soared to $X in 2021 estimated in export price. In general, production recorded a tangible increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 92% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Refractory Products of Siliceous or Diatomite Earths

Exports from Ghana

In 2021, the amount of refractory products of siliceous or diatomite earths exported from Ghana reduced rapidly to X tons, dropping by -46.3% on the year before. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 1,482% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, exports of refractory products of siliceous or diatomite earths dropped dramatically to $X in 2021. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 1,026% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X tons) was the main destination for exports of refractory products of siliceous or diatomite earths from Ghana, with a 78% share of total exports. Moreover, exports of refractory products of siliceous or diatomite earths to Burkina Faso exceeded the volume sent to the second major destination, Togo (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Burkina Faso totaled -9.6%.

In value terms, Burkina Faso ($X) and Togo ($X) were the largest markets for refractory products of siliceous or diatomite earths exported from Ghana worldwide.

Burkina Faso, with a CAGR of -7.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for refractory products of siliceous or diatomite earths stood at $X per ton in 2021, jumping by 43% against the previous year. Overall, the export price posted a modest increase. The growth pace was the most rapid in 2017 an increase of 182%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Burkina Faso amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Togo (+4.9%).

Imports of Refractory Products of Siliceous or Diatomite Earths

Imports into Ghana

In 2021, the amount of refractory products of siliceous or diatomite earths imported into Ghana declined dramatically to X tons, dropping by -68.3% compared with 2020 figures. Overall, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 816% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, imports of refractory products of siliceous or diatomite earths reduced rapidly to $X in 2021. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 726% against the previous year. Over the period under review, imports of reached the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Australia (X tons) were the main suppliers of imports of refractory products of siliceous or diatomite earths to Ghana, with a combined 64% share of total imports. The United Arab Emirates, Italy, the United States, the UK and Nigeria lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +76.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), India ($X) and the United Arab Emirates ($X) constituted the largest refractory products of siliceous or diatomite earths suppliers to Ghana, with a combined 68% share of total imports. These countries were followed by the UK, Nigeria, China, Italy and the United States, which together accounted for a further 19%.

In terms of the main suppliers, Nigeria, with a CAGR of +41.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for refractory products of siliceous or diatomite earths amounted to $X per ton, jumping by 26% against the previous year. Overall, the import price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 an increase of 148% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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