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Report Western Africa - Diamonds (Industrial) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Western Africa - Diamonds (Industrial) - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Industrial Diamond Market 2024

Industrial Diamond Market Size in Western Africa

In 2021, the West African industrial diamond market was finally on the rise to reach $X after six years of decline. Overall, consumption showed moderate growth. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Industrial Diamond Production in Western Africa

In value terms, industrial diamond production stood at $X in 2021 estimated in export price. Overall, production continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of 295%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Industrial Diamond Exports

Exports in Western Africa

In 2021, approx. X tons of diamonds (industrial) were exported in Western Africa; increasing by 106% on the previous year. Overall, exports enjoyed a slight expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 244% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial diamond exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 420%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Sierra Leone (X tons) was the key exporter of diamonds (industrial), creating 63% of total exports. It was distantly followed by Guinea (X tons), making up a 36% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sierra Leone (with a CAGR of +11.4%).

In value terms, Guinea ($X) and Sierra Leone ($X) constituted the countries with the highest levels of exports in 2021.

Among the main exporting countries, Guinea, with a CAGR of +5.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per kg, jumping by 21% against the previous year. In general, the export price, however, showed a mild setback. The most prominent rate of growth was recorded in 2017 an increase of 51%. As a result, the export price reached the peak level of $X per kg. From 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Guinea ($X per kg), while Sierra Leone totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (-0.4%).

Industrial Diamond Imports

Imports in Western Africa

In 2018, purchases abroad of diamonds (industrial) decreased by -93.2% to X kg for the first time since 2015, thus ending a two-year declining trend. Over the period under review, imports recorded a dramatic contraction. The volume of import peaked at X tons in 2013; however, from 2014 to 2018, imports remained at a lower figure.

In value terms, industrial diamond imports contracted significantly to $X in 2018. Overall, imports saw a precipitous shrinkage. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2018, imports stood at a somewhat lower figure.

Import Prices by Country

In 2018, the import price in Western Africa amounted to $X per kg, surging by 232% against the previous year. Overall, the import price posted a significant expansion. The pace of growth appeared the most rapid in 2016 when the import price increased by 232%. As a result, import price reached the peak level of $X per kg; afterwards, it flattened through to 2018.

As there is only one major supplying country, the average price level is determined by prices for Senegal.

From 2013 to 2018, the rate of growth in terms of prices for Senegal amounted to 0.0% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Nigeria remains the largest industrial diamond consuming country in Western Africa, comprising approx. 66% of total volume. Moreover, industrial diamond consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, more than tenfold. The third position in this ranking was occupied by Cote d'Ivoire, with a 4.8% share.
The country with the largest volume of industrial diamond production was Nigeria, comprising approx. 65% of total volume. Moreover, industrial diamond production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana, more than tenfold. Sierra Leone ranked third in terms of total production with a 5% share.
In value terms, the largest industrial diamond supplying countries in Western Africa were Sierra Leone, Guinea and Liberia, together accounting for 98% of total exports.
The export price in Western Africa stood at $7.6 per kg in 2021, reducing by -16.7% against the previous year.
The import price in Western Africa stood at less than $0.1 per kg in 2018, with a decrease of -97.8% against the previous year.

This report provides an in-depth analysis of the industrial diamond market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 08992200 - Industrial diamonds, unworked or simply sawn, cleaved or bruted, pumice stone, emery, natural corundum, natural garnet and other natural abrasives

Country coverage:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo
  • Cote d'Ivoire

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Western Africa, split by region and country
  • Trade (exports and imports) in Western Africa
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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