Western Africa: Other Agglomerates Market 2024

Other Agglomerates Market Size in Western Africa

In 2022, the West African other agglomerates market increased by 15% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, continues to indicate a drastic downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Other Agglomerates Production in Western Africa

In value terms, other agglomerates production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 30%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Other Agglomerates Exports

Exports in Western Africa

In 2022, overseas shipments of other agglomerates decreased by -5.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 224% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, other agglomerates exports fell to $X in 2022. Over the period under review, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 332% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Benin prevails in exports structure, resulting at X tons, which was approx. 80% of total exports in 2022. Nigeria (X tons) took a 9% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (5.4%) and Ghana (5.2%).

From 2012 to 2022, average annual rates of growth with regard to other agglomerates exports from Benin stood at +41.9%. At the same time, Ghana (+57.9%), Nigeria (+54.3%) and Cote d'Ivoire (+42.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +57.9% from 2012-2022. While the share of Benin (+13 p.p.), Nigeria (+5.7 p.p.) and Ghana (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Benin ($X) remains the largest other agglomerates supplier in Western Africa, comprising 85% of total exports. The second position in the ranking was held by Nigeria ($X), with a 7.9% share of total exports. It was followed by Ghana, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Benin totaled +41.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+62.3% per year) and Ghana (+54.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by -5% against the previous year. Over the period under review, the export price continues to indicate a pronounced decrease. The growth pace was the most rapid in 2018 when the export price increased by 33%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+5.1%), while the other leaders experienced a decline in the export price figures.

Other Agglomerates Imports

Imports in Western Africa

In 2022, after two years of decline, there was growth in supplies from abroad of other agglomerates, when their volume increased by 3.6% to X tons. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 413% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, other agglomerates imports surged to $X in 2022. Overall, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2019 when imports increased by 228%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mauritania prevails in imports structure, reaching X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Senegal (X tons), committing an 8.1% share of total imports. Ghana (X tons) held a minor share of total imports.

Mauritania was also the fastest-growing in terms of the other agglomerates imports, with a CAGR of +72.1% from 2012 to 2022. At the same time, Senegal (+23.2%) displayed positive paces of growth. By contrast, Ghana (-8.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania increased by +84 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X) constitutes the largest market for imported other agglomerates in Western Africa, comprising 76% of total imports. The second position in the ranking was taken by Senegal ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Mauritania stood at +62.7%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+25.5% per year) and Ghana (-5.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of 18% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 an increase of 109% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :