Western Africa: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in Western Africa

After two years of growth, the West African pyrotechnic articles market decreased by -1% to $X in 2021. Overall, consumption, however, showed a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Pyrotechnic Articles Production in Western Africa

In value terms, pyrotechnic articles production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when the production volume increased by 36%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Pyrotechnic Articles Exports

Exports in Western Africa

In 2021, pyrotechnic articles exports in Western Africa rose significantly to X kg, surging by 9.3% on 2020. Over the period under review, exports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2019 with an increase of 644%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, pyrotechnic articles exports reduced rapidly to $X in 2021. Overall, exports, however, showed a precipitous decline. The pace of growth was the most pronounced in 2015 with an increase of 447% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Nigeria (X kg), together finishing at 99% of total export.

Nigeria was also the fastest-growing in terms of the signalling flares, rain rockets, fog signals and other pyrotechnic articles exports, with a CAGR of +9.0% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +70 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest pyrotechnic articles supplier in Western Africa.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled -4.4%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, dropping by -55.3% against the previous year. Overall, the export price showed a dramatic contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by 75%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -12.3% per year.

Pyrotechnic Articles Imports

Imports in Western Africa

In 2021, purchases abroad of signalling flares, rain rockets, fog signals and other pyrotechnic articles decreased by -19.6% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2014 with an increase of 115%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, pyrotechnic articles imports shrank to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.3% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 79%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X tons) and Mali (X tons) were the major importers of signalling flares, rain rockets, fog signals and other pyrotechnic articles in Western Africa, together mixing up 64% of total imports. Cote d'Ivoire (X kg) ranks next in terms of the total imports with a 13% share, followed by Benin (5.8%) and Burkina Faso (5.2%). The following importers - Liberia (X kg) and Togo (X kg) - together made up 7.9% of total imports.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +42.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Mali ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, with a combined 74% share of total imports. These countries were followed by Benin, Liberia, Burkina Faso and Togo, which together accounted for a further 19%.

Benin, with a CAGR of +53.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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

In 2021, the import price in Western Africa amounted to $X per ton, surging by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2015 when the import price increased by 41%. The level of import peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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