Western Africa: Carbonate Market 2024

Carbonate Market Size in Western Africa

The West African carbonate market contracted to $X in 2023, reducing by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Carbonate Production in Western Africa

In value terms, carbonate production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Carbonate Exports

Exports in Western Africa

In 2023, the amount of carbonates and peroxocarbonates exported in Western Africa expanded rapidly to X tons, picking up by X% on 2022 figures. Overall, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2015 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, carbonate exports soared to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Mali represented the largest exporter of carbonates and peroxocarbonates in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%). The following exporters - Nigeria (X tons) and Ghana (X tons) - each resulted at a X% share of total exports.

Mali was also the fastest-growing in terms of the carbonates and peroxocarbonates exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.), Ghana (X p.p.), Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest carbonate supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Mali ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Carbonate Imports

Imports in Western Africa

In 2023, approx. X tons of carbonates and peroxocarbonates were imported in Western Africa; surging by X% against the previous year. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, carbonate imports declined to $X in 2023. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of carbonate imports in 2023 were Nigeria (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together reaching X% of total import. It was distantly followed by Burkina Faso (X tons), generating a X% share of total imports. Senegal (X tons), Guinea (X tons) and Togo (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, dropping by X% against the previous year. Import price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform