Western Africa: Market for Activated Natural Mineral Products 2024

Market Size for Activated Natural Mineral Products in Western Africa

In 2021, after three years of growth, there was significant decline in the West African activated natural mineral products market, when its value decreased by -11.5% to $X. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.4% against 2017 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Activated Natural Mineral Products in Western Africa

In value terms, activated natural mineral products production declined to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +34.2% against 2017 indices. The growth pace was the most rapid in 2014 when the production volume increased by 33%. The level of production peaked at $X in 2020, and then reduced in the following year.

Exports of Activated Natural Mineral Products

Exports in Western Africa

In 2021, shipments abroad of activated natural mineral products increased by 318% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, recorded a pronounced decrease. The pace of growth appeared the most rapid in 2015 with an increase of 649% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, activated natural mineral products exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 4,439%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, finishing at X tons, which was near 90% of total exports in 2021. It was distantly followed by Senegal (X tons), making up an 8.7% share of total exports.

Exports from Nigeria decreased at an average annual rate of -1.6% from 2012 to 2021. At the same time, Senegal (+1.1%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +1.1% from 2012-2021. From 2012 to 2021, the share of Nigeria and Senegal increased by +9.2 and +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest activated natural mineral products supplier in Western Africa, comprising 90% of total exports. The second position in the ranking was held by Senegal ($X), with a 7.4% share of total exports.

In Nigeria, activated natural mineral products exports increased at an average annual rate of +2.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, waning by -29.9% against the previous year. In general, the export price saw a mild shrinkage. The most prominent rate of growth was recorded in 2015 when the export price increased by 506%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.4%).

Imports of Activated Natural Mineral Products

Imports in Western Africa

After three years of growth, purchases abroad of activated natural mineral products decreased by -20.8% to X tons in 2021. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.6% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 40%. The volume of import peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, activated natural mineral products imports shrank to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.7% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 56%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons) was the main importer of activated natural mineral products, mixing up 54% of total imports. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Ghana (X tons) and Sierra Leone (X tons). All these countries together took approx. 36% share of total imports. Guinea (X tons) and Senegal (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to activated natural mineral products imports into Nigeria stood at +2.2%. At the same time, Sierra Leone (+60.0%), Guinea (+45.9%), Ghana (+4.5%) and Senegal (+2.5%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +60.0% from 2012-2021. By contrast, Cote d'Ivoire (-3.9%) illustrated a downward trend over the same period. Sierra Leone (+7.5 p.p.), Guinea (+3.4 p.p.) and Ghana (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Cote d'Ivoire saw its share reduced by -1.7% and -11.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported activated natural mineral products in Western Africa, comprising 64% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 13% share of total imports. It was followed by Ghana, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +3.5%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (-2.5% per year) and Ghana (+0.0% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, increasing by 9.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 14% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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