Western Africa: Zinc Oxide Market 2024

Zinc Oxide Market Size in Western Africa

The West African zinc oxide market rose modestly to $X in 2022, growing by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Zinc Oxide Production in Western Africa

In value terms, zinc oxide production amounted to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Zinc Oxide Exports

Exports in Western Africa

In 2022, shipments abroad of zinc oxide and zinc peroxide decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, zinc oxide exports fell dramatically to $X in 2022. Over the period under review, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), making up a X% share of total exports.

Nigeria was also the fastest-growing in terms of the zinc oxide and zinc peroxide exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest zinc oxide supplying countries in Western Africa were Nigeria ($X) and Senegal ($X).

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Senegal ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Zinc Oxide Imports

Imports in Western Africa

In 2022, the amount of zinc oxide and zinc peroxide imported in Western Africa soared to X tons, increasing by X% on 2021. In general, imports showed a strong increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, zinc oxide imports skyrocketed to $X in 2022. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Nigeria (X tons) was the largest importer of zinc oxide and zinc peroxide, making up X% of total imports. Ghana (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to zinc oxide imports into Nigeria stood at X%. At the same time, Ghana (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Ghana (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported zinc oxide and zinc peroxide in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

In Nigeria, zinc oxide imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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