Western Africa: Talc And Steatite Market 2024

Talc And Steatite Market Size in Western Africa

The West African talc and steatite market rose markedly to $X in 2022, growing by 5.3% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.1% against 2012 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Talc And Steatite Production in Western Africa

In value terms, talc and steatite production contracted slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.0% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 30%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Talc And Steatite Exports

Exports in Western Africa

In 2022, approx. X tons of talc and steatite were exported in Western Africa; which is down by -3.7% against the year before. Overall, exports, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 439% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, talc and steatite exports dropped remarkably to $X in 2022. In general, exports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of 140% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria was the key exporter of talc and steatite in Western Africa, with the volume of exports amounting to X tons, which was approx. 65% of total exports in 2022. Senegal (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (7.4%). Mali (X tons) took a little share of total exports.

Nigeria was also the fastest-growing in terms of the talc and steatite exports, with a CAGR of +24.6% from 2012 to 2022. At the same time, Cote d'Ivoire (+9.0%) displayed positive paces of growth. By contrast, Mali (-6.2%) and Senegal (-8.0%) illustrated a downward trend over the same period. Nigeria (+56 p.p.) and Cote d'Ivoire (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Mali and Senegal saw its share reduced by -5.9% and -45.2% from 2012 to 2022, respectively.

In value terms, Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, with a combined 86% share of total exports.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of +6.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with a decrease of -40.5% against the previous year. Overall, the export price recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 when the export price increased by 213% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 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 Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+4.0%), while the other leaders experienced a decline in the export price figures.

Talc And Steatite Imports

Imports in Western Africa

In 2022, imports of talc and steatite in Western Africa surged to X tons, with an increase of 16% on the year before. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 29%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, talc and steatite imports surged to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +117.6% against 2016 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 38%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Senegal (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons) was the largest importer of talc and steatite in Western Africa, making up 87% of total import. It was distantly followed by Ghana (X tons), committing a 10% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported talc and steatite in Western Africa, comprising 53% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 19% share of total imports. It was followed by Senegal, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+8.9% per year) and Senegal (+4.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by 14% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 20%. As a result, import price reached 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 Nigeria ($X per ton), while Senegal ($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 (+2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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