ECOWAS: Silicates Market 2024

Silicates Market Size in ECOWAS

The ECOWAS silicates market skyrocketed to $X in 2022, with an increase of X% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Silicates Production in ECOWAS

In value terms, silicates production rose sharply to $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Silicates Exports

Exports in ECOWAS

In 2022, exports of silicates, commercial alkali metal silicates in ECOWAS totaled X tons, with an increase of X% against 2021 figures. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2015 when exports increased by X%. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, silicates exports skyrocketed to $X in 2022. In general, exports showed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal was the main exporting country with an export of about X tons, which amounted to X% of total exports. Mali (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%) and Cote d'Ivoire (X%). Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mali (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Mali ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Mali, 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, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price posted a mild expansion. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Silicates Imports

Imports in ECOWAS

Silicates imports skyrocketed to X tons in 2022, jumping by X% compared with 2021 figures. Overall, imports showed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicates imports soared to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Senegal (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Ghana (X tons) held the next position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

Senegal, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ghana ($X per ton) and Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) and Senegal ($X per ton) were 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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