Western Africa: Activated Carbon Market 2024

Activated Carbon Market Size in Western Africa

In 2022, the West African activated carbon market increased by 4.2% to $X, rising for the fourth consecutive year after four years of decline. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +95.3% against 2018 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Activated Carbon Production in Western Africa

In value terms, activated carbon production shrank modestly to $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 51%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Activated Carbon Exports

Exports in Western Africa

In 2022, shipments abroad of activated carbon increased by 21% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by 63% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, activated carbon exports shrank to $X in 2022. In general, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 172%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the major exporter of activated carbon, making up 50% of total exports. It was distantly followed by Sierra Leone (X tons), Togo (X tons) and Nigeria (X tons), together committing a 50% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to activated carbon exports from Ghana stood at -13.6%. At the same time, Togo (+22.6%) and Sierra Leone (+17.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.6% from 2012-2022. By contrast, Nigeria (-9.9%) illustrated a downward trend over the same period. While the share of Sierra Leone (+22 p.p.), Togo (+17 p.p.) and Nigeria (+9.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-38.4 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest activated carbon supplier in Western Africa, comprising 64% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 25% share of total exports. It was followed by Togo, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled -17.5%. In the other countries, the average annual rates were as follows: Sierra Leone (+16.7% per year) and Togo (-7.5% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by -23.6% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2017 when the export price increased by 94% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (-0.4%), while the other leaders experienced a decline in the export price figures.

Activated Carbon Imports

Imports in Western Africa

In 2022, supplies from abroad of activated carbon increased by 8.5% to X tons, rising for the fourth year in a row after two years of decline. In general, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, activated carbon imports reached $X in 2022. Over the period under review, imports continue to indicate a tangible expansion. The pace of growth was the most pronounced in 2020 with an increase of 46%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Ghana represented the key importing country with an import of around X tons, which amounted to 38% of total imports. Burkina Faso (X tons) took the second position in the ranking, distantly followed by Nigeria (X tons), Cote d'Ivoire (X tons), Guinea (X tons) and Senegal (X tons). All these countries together held near 53% share of total imports. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported activated carbon in Western Africa, comprising 40% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 20% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

In Ghana, activated carbon imports increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+6.1% per year) and Cote d'Ivoire (+3.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of -7.2% against the previous year. Over the period under review, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 17%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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