Western Africa: Carbides Market 2024

Carbides Market Size in Western Africa

The West African carbides market fell to $X in 2022, with a decrease of -8.8% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Carbides Production in Western Africa

In value terms, carbides production fell to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +11.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 47%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Carbides Exports

Exports in Western Africa

In 2022, the amount of carbides exported in Western Africa fell markedly to X tons, which is down by -22.1% against 2021 figures. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 114%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, carbides exports reached $X in 2022. In general, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2019 with an increase of 74% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of carbides, namely Togo, Niger and Ghana, represented more than two-thirds of total export. Burkina Faso (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (8%) and Cote d'Ivoire (5.6%). Nigeria (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +17.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest carbides supplying countries in Western Africa were Ghana ($X), Niger ($X) and Togo ($X), with a combined 81% share of total exports.

Among the main exporting countries, Niger, with a CAGR of +25.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by 32% against the previous year. Overall, the export price recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 61% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+16.2%), while the other leaders experienced more modest paces of growth.

Carbides Imports

Imports in Western Africa

In 2022, purchases abroad of carbides decreased by -10.7% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 50% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, carbides imports contracted remarkably to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 65%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of carbides imports in 2022 were Senegal (X tons), Mauritania (X tons), Nigeria (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together recording 83% of total import. Guinea (X tons) held the next position in the ranking, followed by Benin (X tons). All these countries together held near 9.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mauritania (with a CAGR of +22.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carbides importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 56% share of total imports. Senegal, Guinea, Benin and Mauritania lagged somewhat behind, together comprising a further 35%.

Among the main importing countries, Benin, with a CAGR of +22.9%, saw the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per ton in 2022, which is down by -18.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 28% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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