Report Update Apr 1, 2024

Western Africa - Artificial Corundum - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Artificial Corundum Market 2024

Artificial Corundum Market Size in Western Africa

The West African artificial corundum market expanded to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Artificial Corundum Production in Western Africa

In value terms, artificial corundum production rose modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Artificial Corundum Exports

Exports in Western Africa

In 2022, overseas shipments of artificial corundum decreased by X% to X kg, falling for the second year in a row after two years of decline. Overall, exports saw a sharp shrinkage. The smallest decline of X% was in 2015. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, artificial corundum exports amounted to $X in 2022. In general, exports recorded a significant decrease. The smallest decline of X% was in 2015. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

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. In general, the export price, however, saw perceptible growth. The growth pace was the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

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

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

Artificial Corundum Imports

Imports in Western Africa

In 2022, approx. X tons of artificial corundum were imported in Western Africa; jumping by X% against 2021. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, artificial corundum imports surged to $X in 2022. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. Ghana (X tons) took a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the artificial corundum imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, artificial corundum imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Ghana (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for artificial corundum in Western Africa?

The countries with the highest volumes of consumption in 2023 were Ghana, Cote d'Ivoire and Mali, with a combined 35% share of total consumption. Burkina Faso, Senegal, Niger, Guinea, Benin, Togo, Sierra Leone and Liberia lagged somewhat behind, together accounting for a further 64%.

What are the largest producers of artificial corundum in Western Africa?

The countries with the highest volumes of production in 2022 were Ghana, Cote d'Ivoire and Mali, with a combined 35% share of total production. Burkina Faso, Senegal, Niger, Guinea, Benin, Togo, Sierra Leone and Liberia lagged somewhat behind, together accounting for a further 65%.

What are the leading importers of artificial corundum in Western Africa?

In value terms, Nigeria constitutes the largest market for imported artificial corundum in Western Africa, comprising 89% of total imports. The second position in the ranking was held by Ghana, with a 9.7% share of total imports.

What is the average export price for artificial corundum in Western Africa?

The export price in Western Africa stood at $1,374 per ton in 2022, falling by -89.3% against the previous year.

What is the average import price for artificial corundum in Western Africa?

The import price in Western Africa stood at $657 per ton in 2022, waning by -57% against the previous year.

This report provides an in-depth analysis of the artificial corundum market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23991500 - Artificial corundum (excluding mechanical mixtures)

Country coverage:

Benin
Burkina Faso
Cabo Verde
Cote d'Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023