Western Africa: Aluminium Hydroxide Market 2024

Aluminium Hydroxide Market Size in Western Africa

The West African aluminium hydroxide market dropped modestly to $X in 2022, shrinking by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Aluminium Hydroxide Production in Western Africa

In value terms, aluminium hydroxide production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Aluminium Hydroxide Exports

Exports in Western Africa

In 2022, approx. X tons of aluminium hydroxide were exported in Western Africa; dropping by X% against 2021 figures. In general, exports continue to indicate a precipitous descent. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium hydroxide exports contracted to $X in 2022. Over the period under review, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Sierra Leone (X tons) was the major exporter of aluminium hydroxide in Western Africa, making up X% of total export.

Sierra Leone was also the fastest-growing in terms of the aluminium hydroxide exports, with a CAGR of X% from 2012 to 2022. Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) also remains the largest aluminium hydroxide supplier in Western Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone totaled X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by X% against the previous year. In general, the export price, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for Sierra Leone.

From 2012 to 2022, the rate of growth in terms of prices for Sierra Leone amounted to X% per year.

Aluminium Hydroxide Imports

Imports in Western Africa

After two years of growth, purchases abroad of aluminium hydroxide decreased by X% to X tons in 2022. Over the period under review, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped markedly in the following year.

In value terms, aluminium hydroxide imports dropped notably to $X in 2022. Overall, imports recorded a pronounced slump. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the major importer of aluminium hydroxide in Western Africa, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons), generating an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to aluminium hydroxide imports into Nigeria stood at X%. At the same time, Ghana (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. From 2012 to 2022, the share of Ghana increased by X percentage points.

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

In Nigeria, aluminium hydroxide imports decreased by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, 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 Ghana ($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 Nigeria (X%).

Source: IndexBox Platform

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