Western Africa: Titanium Dioxide Market 2024

Titanium Dioxide Market Size in Western Africa

In 2021, after two years of decline, there was significant growth in the West African titanium dioxide market, when its value increased by 19% to $X. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Titanium Dioxide Production in Western Africa

In value terms, titanium dioxide production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Titanium Dioxide Exports

Exports in Western Africa

Titanium dioxide exports fell to X tons in 2021, waning by -12.9% on 2020. Over the period under review, exports recorded a perceptible reduction. The growth pace was the most rapid in 2014 when exports increased by 63%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, titanium dioxide exports dropped significantly to $X in 2021. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 42%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mali (X tons) represented the largest exporter of titanium dioxide, constituting 57% of total exports. It was distantly followed by Sierra Leone (X tons) and Ghana (X tons), together achieving a 42% share of total exports.

Exports from Mali decreased at an average annual rate of -4.3% from 2012 to 2021. Ghana (-1.4%) and Sierra Leone (-3.5%) illustrated a downward trend over the same period. While the share of Ghana (+3.7 p.p.) and Sierra Leone (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest titanium dioxide supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 13% share of total exports.

In Mali, titanium dioxide exports shrank by an average annual rate of -6.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (-10.1% per year) and Ghana (-11.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, which is down by -4.1% against the previous year. In general, the export price showed a pronounced shrinkage. The growth pace was the most rapid in 2015 when the export price increased by 27%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Mali ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-2.7%), while the other leaders experienced a decline in the export price figures.

Titanium Dioxide Imports

Imports in Western Africa

In 2021, titanium dioxide imports in Western Africa dropped notably to X tons, which is down by -42.4% on 2020. Overall, imports, however, continue to indicate notable growth. The most prominent rate of growth was recorded in 2020 with an increase of 191%. As a result, imports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, titanium dioxide imports fell rapidly to $X in 2021. In general, imports showed a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 186%. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was approx. 89% of total imports in 2021. Mauritania (X tons) and Senegal (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +3.6% from 2012 to 2021. At the same time, Mauritania (+4.1%) and Senegal (+3.6%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +4.1% from 2012-2021. Nigeria (+11 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported titanium dioxide in Western Africa, comprising 88% of total imports. The second position in the ranking was held by Mauritania ($X), with a 3.7% share of total imports.

In Nigeria, titanium dioxide imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mauritania (+24.8% per year) and Senegal (-0.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, flattening at the previous year. In general, the import price showed a pronounced decline. The pace of growth appeared the most rapid in 2014 when the import price increased by 18%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a 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 Senegal ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+19.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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