Western Africa: Capacitor Market 2024

Capacitor Market Size in Western Africa

The West African capacitor market amounted to $X in 2021, increasing by 5.2% against the previous year. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.6% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Capacitor Production in Western Africa

In value terms, capacitor production reached $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.4% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 33%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Capacitor Exports

Exports in Western Africa

In 2021, the amount of electrical capacitors exported in Western Africa soared to X tons, rising by 79% compared with the previous year's figure. In general, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, capacitor exports expanded markedly to $X in 2021. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2018 with an increase of 50% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

In 2021, Guinea (X tons), Togo (X tons) and Mali (X tons) represented the key exporter of electrical capacitors in Western Africa, achieving 74% of total export. It was distantly followed by Saint Helena, Ascension and Tristan da Cunha (X tons) and Sierra Leone (X tons), together making up a 17% share of total exports. Niger (X kg) and Nigeria (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +170.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) remains the largest capacitor supplier in Western Africa, comprising 51% of total exports. The second position in the ranking was taken by Saint Helena, Ascension and Tristan da Cunha ($X), with a 21% share of total exports. It was followed by Togo, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value in Mali totaled +13.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Saint Helena, Ascension and Tristan da Cunha (+37.9% per year) and Togo (+12.4% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, reducing by -41.3% against the previous year. Overall, the export price, however, continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2020 an increase of 80% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+14.5%), while the other leaders experienced more modest paces of growth.

Capacitor Imports

Imports in Western Africa

Capacitor imports soared to X tons in 2021, with an increase of 33% against the year before. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 78% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, capacitor imports shrank to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 59% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria was the key importing country with an import of around X tons, which resulted at 54% of total imports. Ghana (X tons) ranks second in terms of the total imports with a 14% share, followed by Cote d'Ivoire (14%) and Senegal (4.7%). Mauritania (X tons), Benin (X tons) and Niger (X tons) held a relatively small share of total imports.

Imports into Nigeria decreased at an average annual rate of -17.8% from 2012 to 2021. At the same time, Mauritania (+42.3%), Niger (+36.2%), Benin (+26.3%), Cote d'Ivoire (+8.9%), Senegal (+7.5%) and Ghana (+6.3%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +42.3% from 2012-2021. Cote d'Ivoire (+12 p.p.), Ghana (+12 p.p.), Mauritania (+4.1 p.p.), Senegal (+4 p.p.), Benin (+2.5 p.p.) and Niger (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -39.6% from 2012 to 2021, respectively.

In value terms, the largest capacitor importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising 64% of total imports. Benin, Senegal, Mauritania and Niger lagged somewhat behind, together accounting for a further 20%.

Mauritania, with a CAGR of +34.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 2021, falling by -30.9% against the previous year. Over the period under review, the import price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by 122% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020, and then shrank notably in the following year.

Prices varied noticeably country of destination: the country with the highest price was Benin ($X per ton), while Nigeria ($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 (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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