Western Africa: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Western Africa

The West African asphalt or bitumen article market declined modestly to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Asphalt or Bitumen Articles in Western Africa

In value terms, asphalt or bitumen article production reduced to $X in 2022 estimated in export price. Overall, production saw a pronounced decrease. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports in Western Africa

In 2022, approx. X tons of asphalt or bitumen articles were exported in Western Africa; reducing by X% against the previous year's figure. Over the period under review, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, asphalt or bitumen article exports skyrocketed to $X in 2022. In general, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the main exporter of asphalt or bitumen articles in Western Africa, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Senegal (X tons), comprising a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to asphalt or bitumen article exports from Cote d'Ivoire stood at X%. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, continues to indicate a sharp downturn. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire amounted to $X per ton.

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

Imports of Asphalt or Bitumen Articles

Imports in Western Africa

In 2022, the amount of asphalt or bitumen articles imported in Western Africa reached X tons, approximately equating 2021. In general, imports posted resilient growth. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, asphalt or bitumen article imports shrank modestly to $X in 2022. Total imports indicated pronounced 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, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Cote d'Ivoire (X tons), Senegal (X tons) and Ghana (X tons) were the main importers of asphalt or bitumen articles, together making up X% of total imports. The following importers - Mali (X tons), Togo (X tons), Benin (X tons), Mauritania (X tons), Burkina Faso (X tons), Guinea (X tons) and Guinea-Bissau (X tons) - together made up X% of total imports.

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

In value terms, the largest asphalt or bitumen article importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together accounting for X% of total imports. Senegal, Benin, Mali, Guinea, Togo, Burkina Faso, Mauritania and Guinea-Bissau lagged somewhat behind, together comprising a further X%.

Guinea-Bissau, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 Western Africa stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price showed a perceptible downturn. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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