Western Africa: Sugar-Manufacturing Industrial Machinery Market 2024

Sugar-Manufacturing Industrial Machinery Market Size in Western Africa

In 2022, the West African sugar-manufacturing industrial machinery market increased by 39% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate tangible growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Sugar-Manufacturing Industrial Machinery Production in Western Africa

In value terms, sugar-manufacturing industrial machinery production expanded notably to $X in 2022 estimated in export price. Overall, production saw prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 48%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Sugar-Manufacturing Industrial Machinery Exports

Exports in Western Africa

In 2022, after two years of growth, there was significant decline in shipments abroad of industrial machinery for the manufacture or preparation of sugar, when their volume decreased by -38.2% to X units. In general, exports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2020 with an increase of 600% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then fell sharply in the following year.

In value terms, sugar-manufacturing industrial machinery exports declined significantly to $X in 2022. Overall, exports, however, recorded moderate growth. The pace of growth was the most pronounced in 2021 with an increase of 3,674% against the previous year. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

Nigeria prevails in exports structure, accounting for X units, which was near 96% of total exports in 2022. Cote d'Ivoire (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the industrial machinery for the manufacture or preparation of sugar exports, with a CAGR of +40.1% from 2012 to 2022. Cote d'Ivoire (-20.6%) illustrated a downward trend over the same period. Nigeria (+96 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -42.9% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest sugar-manufacturing industrial machinery supplier in Western Africa, comprising 98% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 1.6% share of total exports.

In Nigeria, sugar-manufacturing industrial machinery exports expanded at an average annual rate of +142.1% over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, almost unchanged from the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 494% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.0%).

Sugar-Manufacturing Industrial Machinery Imports

Imports in Western Africa

After two years of decline, purchases abroad of industrial machinery for the manufacture or preparation of sugar increased by 65% to X units in 2022. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by 129% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, sugar-manufacturing industrial machinery imports expanded rapidly to $X in 2022. In general, imports, however, showed a mild descent. The most prominent rate of growth was recorded in 2014 with an increase of 122% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the key importer of industrial machinery for the manufacture or preparation of sugar in Western Africa, with the volume of imports recording X units, which was approx. 74% of total imports in 2022. Senegal (X units) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (5.5%). Liberia (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +12.4% from 2012 to 2022. At the same time, Senegal (+20.2%), Cote d'Ivoire (+16.9%) and Liberia (+5.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.2% from 2012-2022. From 2012 to 2022, the share of Nigeria, Senegal and Cote d'Ivoire increased by +23, +7.9 and +3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, with a combined 85% share of total imports.

Among the main importing countries, Senegal, with a CAGR of +23.3%, recorded the highest growth rate of 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 unit in 2022, dropping by -34.2% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2020 when the import price increased by 36%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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