Western Africa: Alumina Market 2022

Alumina Market Size in Western Africa

The West African alumina market stood at $X in 2021, approximately equating the previous year. Overall, consumption, however, posted prominent growth. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Alumina Production in Western Africa

In value terms, alumina production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Alumina Exports

Exports in Western Africa

In 2021, overseas shipments of alumina decreased by -X% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The volume of export peaked at X tons in 2020, and then declined in the following year.

In value terms, alumina exports reached $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Guinea (X tons) was the largest exporter of alumina in Western Africa, making up X% of total export.

Guinea was also the fastest-growing in terms of the alumina exports, with a CAGR of +X% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X) also remains the largest alumina supplier in Western Africa.

From 2012 to 2021, the average annual rate of growth in terms of value in Guinea totaled +X%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by X% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, alumina export price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Guinea amounted to +X% per year.

Alumina Imports

Imports in Western Africa

After nine years of growth, purchases abroad of alumina decreased by -X% to X tons in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020, and then reduced modestly in the following year.

In value terms, alumina imports declined to $X in 2021. In general, imports, however, saw a strong increase. The growth pace was the most rapid in 2013 with an increase of X%. The level of import peaked at $X in 2020, and then declined modestly in the following year.

Imports by Country

In 2021, Cabo Verde (X tons) represented the key importer of alumina, constituting X% of total imports. It was distantly followed by Ghana (X tons), making up a X% share of total imports. Nigeria (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to alumina imports into Cabo Verde stood at +X%. At the same time, Ghana (+X%) and Nigeria (+X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +X% from 2012-2021. Ghana (+X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde saw its share reduced by -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cabo Verde ($X) constitutes the largest market for imported alumina in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

In Cabo Verde, alumina imports expanded at an average annual rate of +X% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+X% per year) and Nigeria (-X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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