Western Africa: Oxides And Hydroxides Market 2025

Oxides And Hydroxides Market Size in Western Africa

The West African oxides and hydroxides market rose remarkably to $X in 2021, increasing by 8.2% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 decreased by -4.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Oxides And Hydroxides Production in Western Africa

In value terms, oxides and hydroxides production stood at $X in 2021 estimated in export price. The total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% 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 decreased by -10.0% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 45%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Oxides And Hydroxides Exports

Exports in Western Africa

In 2021, the amount of chromium, manganese, lead and copper oxides and hydroxides exported in Western Africa soared to X tons, growing by 130% on 2020. Overall, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oxides and hydroxides exports surged to $X in 2021. Over the period under review, exports, however, showed a noticeable slump. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria represented the main exporter of chromium, manganese, lead and copper oxides and hydroxides in Western Africa, with the volume of exports reaching X tons, which was near 82% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), making up a 16% share of total exports.

Exports from Nigeria increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, Cote d'Ivoire (+10.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +10.9% from 2012-2021. Nigeria (+6.9 p.p.) and Cote d'Ivoire (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest oxides and hydroxides supplier in Western Africa, comprising 61% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at -5.0%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, reducing by -33.8% against the previous year. Overall, the export price showed a abrupt contraction. The growth pace was the most rapid in 2018 when the export price increased by 22%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.2%).

Oxides And Hydroxides Imports

Imports in Western Africa

Oxides and hydroxides imports surged to X tons in 2021, with an increase of 34% against the year before. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 66% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, oxides and hydroxides imports soared to $X in 2021. In general, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. 67% of total imports in 2021. It was distantly followed by Ghana (X tons), Guinea (X tons) and Senegal (X tons), together achieving a 25% share of total imports. Burkina Faso (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the chromium, manganese, lead and copper oxides and hydroxides imports, with a CAGR of +35.9% from 2012 to 2021. At the same time, Burkina Faso (+19.6%), Ghana (+17.7%), Guinea (+13.9%), Senegal (+8.1%) and Cote d'Ivoire (+3.2%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria increased by +51 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported chromium, manganese, lead and copper oxides and hydroxides in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Ghana ($X), with a 20% share of total imports. It was followed by Burkina Faso, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +36.9%. In the other countries, the average annual rates were as follows: Ghana (+13.6% per year) and Burkina Faso (+19.0% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, increasing by 1.7% against the previous year. In general, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2014 when the import price increased by 15%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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