Western Africa: Silicates Market 2024

Silicates Market Size in Western Africa

In 2021, after two years of growth, there was significant decline in the West African silicates market, when its value decreased by -18.6% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Silicates Production in Western Africa

In value terms, silicates production contracted dramatically to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 65% against the previous year. As a result, production reached the peak level of $X, and then contracted markedly in the following year.

Silicates Exports

Exports in Western Africa

Silicates exports rose sharply to X tons in 2021, with an increase of 10% compared with the year before. In general, exports enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2015 with an increase of 60%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, silicates exports stood at $X in 2021. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 124% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Senegal represented the main exporter of silicates, commercial alkali metal silicates in Western Africa, with the volume of exports finishing at X tons, which was approx. 53% of total exports in 2021. Mali (X tons) held the second position in the ranking, distantly followed by Nigeria (X tons) and Cote d'Ivoire (X tons). All these countries together held near 41% share of total exports. The following exporters - Niger (X tons) and Ghana (X tons) - each accounted for a 4.5% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silicates exports from Senegal stood at +19.8%. At the same time, Mali (+25.4%) and Cote d'Ivoire (+9.7%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +25.4% from 2012-2021. By contrast, Ghana (-6.8%), Nigeria (-16.4%) and Niger (-17.0%) illustrated a downward trend over the same period. Senegal (+38 p.p.), Mali (+21 p.p.), Niger (+2.3 p.p.) and Cote d'Ivoire (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Nigeria saw its share reduced by -4% and -56.2% from 2012 to 2021, respectively.

In value terms, the largest silicates supplying countries in Western Africa were Mali ($X), Senegal ($X) and Ghana ($X), with a combined 86% share of total exports.

Among the main exporting countries, Mali, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, waning by -8.5% against the previous year. Overall, the export price, however, continues to indicate a noticeable expansion. The growth pace was the most rapid in 2016 when the export price increased by 82% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($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 (+15.0%), while the other leaders experienced more modest paces of growth.

Silicates Imports

Imports in Western Africa

Silicates imports expanded notably to X tons in 2021, picking up by 5.9% compared with the previous year. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 48%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, silicates imports skyrocketed to $X in 2021. In general, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 45% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of silicates imports in 2021 were Nigeria (X tons), Senegal (X tons) and Ghana (X tons), together resulting at 87% of total import. It was distantly followed by Cote d'Ivoire (X tons), comprising a 9.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +23.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicates importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Ghana ($X), with a combined 89% share of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +12.1%, recorded the highest rates of growth with regard to 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 ton in 2021, growing by 11% against the previous year. Overall, the import price, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2014 an increase of 22% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Nigeria ($X per ton) and Ghana ($X per ton), while Cote d'Ivoire ($X per ton) and Senegal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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