Western Africa: Explosives Market 2024

Explosives Market Size in Western Africa

The West African explosives market was estimated at $X in 2021, growing by 15% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Explosives Production in Western Africa

In value terms, explosives production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 47%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Explosives Exports

Exports in Western Africa

In 2021, overseas shipments of prepared explosives increased by 13% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 620% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, explosives exports declined to $X in 2021. In general, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 44%. The level of export peaked at $X in 2020, and then reduced in the following year.

Exports by Country

Burkina Faso prevails in exports structure, recording X tons, which was near 93% of total exports in 2021. It was distantly followed by Ghana (X tons), mixing up a 5.7% share of total exports.

Burkina Faso was also the fastest-growing in terms of the prepared explosives exports, with a CAGR of +75.2% from 2012 to 2021. Ghana experienced a relatively flat trend pattern. From 2012 to 2021, the share of Burkina Faso increased by +85 percentage points.

In value terms, Burkina Faso ($X) remains the largest explosives supplier in Western Africa, comprising 67% of total exports. The second position in the ranking was held by Ghana ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Burkina Faso stood at +59.6%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, waning by -19.3% against the previous year. Overall, the export price recorded a sharp decrease. The growth pace was the most rapid in 2015 when the export price increased by 130% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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 Ghana ($X per ton), while Burkina Faso stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-8.2%).

Explosives Imports

Imports in Western Africa

In 2021, explosives imports in Western Africa rose rapidly to X tons, with an increase of 5.8% against the previous year's figure. Overall, imports posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 234%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, explosives imports totaled $X in 2021. Over the period under review, imports showed a temperate increase. The growth pace was the most rapid in 2018 with an increase of 73% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Burkina Faso prevails in imports structure, finishing at X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Guinea (X tons) and Ghana (X tons), together constituting a 12% share of total imports. Mali (X tons), Cote d'Ivoire (X tons) and Togo (X tons) took a little share of total imports.

Imports into Burkina Faso increased at an average annual rate of +13.1% from 2012 to 2021. At the same time, Guinea (+29.8%), Cote d'Ivoire (+21.0%), Ghana (+18.1%), Togo (+15.8%) and Mali (+14.3%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +29.8% from 2012-2021. While the share of Burkina Faso (+7.9 p.p.), Guinea (+5 p.p.) and Ghana (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) constitutes the largest market for imported prepared explosives in Western Africa, comprising 47% of total imports. The second position in the ranking was held by Ghana ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with an 8.5% share.

In Burkina Faso, explosives imports increased at an average annual rate of +5.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+19.0% per year) and Cote d'Ivoire (+7.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, increasing by 6.1% against the previous year. In general, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when the import price increased by 57%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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