Western Africa: Market for Grinding, Sanding and Polishing Machines 2024

Market Size for Grinding, Sanding and Polishing Machines in Western Africa

In 2021, after three years of growth, there was significant decline in the West African market for grinding, sanding and polishing machines, when its value decreased by -68.5% to $X. In general, consumption, however, continues to indicate a buoyant expansion. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Grinding, Sanding and Polishing Machines in Western Africa

In value terms, grinding, sanding and polishing machine production declined modestly to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +6.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 31% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Grinding, Sanding and Polishing Machines

Exports in Western Africa

After two years of decline, shipments abroad of grinding, sanding and polishing machines increased by 250% to X units in 2021. In general, exports, however, saw a deep slump. The growth pace was the most rapid in 2016 with an increase of 867% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding, sanding and polishing machine exports reduced rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2015 with an increase of 281% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced notably in the following year.

Exports by Country

In 2021, Senegal (X units), distantly followed by Ghana (X units) represented the key exporters of grinding, sanding and polishing machines, together comprising 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +16.7%).

In value terms, Senegal ($X) remains the largest grinding, sanding and polishing machine supplier in Western Africa, comprising 41% of total exports. The second position in the ranking was held by Ghana ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled +24.2%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, waning by -91.1% against the previous year. Over the period under review, the export price, however, continues to indicate a strong increase. The pace of growth appeared the most rapid in 2017 when the export price increased by 1,697%. Over the period under review, the export prices reached the maximum at $X per unit in 2020, and then declined rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Ghana totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.5%).

Imports of Grinding, Sanding and Polishing Machines

Imports in Western Africa

After three years of growth, overseas purchases of grinding, sanding and polishing machines decreased by -65.9% to X units in 2021. In general, imports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2015 when imports increased by 3,828% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, grinding, sanding and polishing machine imports reduced notably to $X in 2021. Overall, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 331% against the previous year. The level of import peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

Nigeria represented the key importer of grinding, sanding and polishing machines in Western Africa, with the volume of imports recording X units, which was near 50% of total imports in 2021. Burkina Faso (X units) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (13%) and Mauritania (6.2%). The following importers - Ghana (X units), Togo (X units) and Benin (X units) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to grinding, sanding and polishing machine imports into Nigeria stood at +16.3%. At the same time, Togo (+41.3%), Mauritania (+32.1%), Benin (+21.9%), Cote d'Ivoire (+15.6%) and Ghana (+9.0%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +41.3% from 2012-2021. By contrast, Burkina Faso (-12.2%) illustrated a downward trend over the same period. While the share of Nigeria (+33 p.p.), Cote d'Ivoire (+8.2 p.p.), Mauritania (+5.5 p.p.), Togo (+3.2 p.p.), Benin (+2.4 p.p.) and Ghana (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Burkina Faso (-50.8 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported grinding, sanding and polishing machines in Western Africa, comprising 54% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 22% share of total imports. It was followed by Ghana, with a 17% share.

In Nigeria, grinding, sanding and polishing machine imports expanded at an average annual rate of +8.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+16.8% per year) and Ghana (+10.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, picking up by 12% against the previous year. In general, the import price recorded a buoyant expansion. The growth pace was the most rapid in 2016 when the import price increased by 374% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+22.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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