Western Africa: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in Western Africa

The West African fuse and detonator market reached $X in 2021, growing by 2.9% against the previous year. Over the period under review, consumption, however, posted resilient growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Fuse And Detonator Production in Western Africa

In value terms, fuse and detonator production contracted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 51%. The level of production peaked at $X in 2020, and then contracted in the following year.

Fuse And Detonator Exports

Exports in Western Africa

In 2021, the amount of safety fuses, detonating fuses and electric detonators exported in Western Africa expanded slightly to X tons, with an increase of 3.2% against the previous year. In general, exports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2018 with an increase of 426%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuse and detonator exports totaled $X in 2021. Over the period under review, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of 333% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Ghana was the largest exporting country with an export of around X tons, which amounted to 68% of total exports. Burkina Faso (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Mali (12%). The following exporters - Senegal (X tons) and Liberia (X tons) - together made up 5.1% of total exports.

From 2012 to 2021, average annual rates of growth with regard to fuse and detonator exports from Ghana stood at -3.5%. At the same time, Burkina Faso (+3.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +3.6% from 2012-2021. Liberia experienced a relatively flat trend pattern. By contrast, Mali (-6.9%) and Senegal (-16.2%) illustrated a downward trend over the same period. Burkina Faso (+6.7 p.p.), Ghana (+4.6 p.p.) and Liberia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Mali and Senegal saw its share reduced by -3.4% and -8% from 2012 to 2021, respectively.

In value terms, Ghana ($X) remains the largest fuse and detonator supplier in Western Africa, comprising 73% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 16% share of total exports. It was followed by Mali, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value in Ghana was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (+18.8% per year) and Mali (-5.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, surging by 7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2020 when the export price increased by 49%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+14.6%), while the other leaders experienced more modest paces of growth.

Fuse And Detonator Imports

Imports in Western Africa

In 2021, fuse and detonator imports in Western Africa reduced slightly to X tons, leveling off at 2020. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 43% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then reduced slightly in the following year.

In value terms, fuse and detonator imports skyrocketed to $X in 2021. Overall, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 44% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

In 2021, Ghana (X tons) and Burkina Faso (X tons) were the main importers of safety fuses, detonating fuses and electric detonators in Western Africa, together constituting 47% of total imports. It was distantly followed by Cote d'Ivoire (X tons), Nigeria (X tons), Mali (X tons) and Mauritania (X tons), together creating a 38% share of total imports. Senegal (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +42.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, together comprising 60% of total imports.

Cote d'Ivoire, with a CAGR of +29.8%, saw the highest rates of growth with regard to the value of imports, among 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, picking up by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +3.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Mauritania ($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 (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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