Western Africa: Carbides Market 2024

Carbides Market Size in Western Africa

The West African carbides market contracted to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Carbides Production in Western Africa

In value terms, carbides production shrank to $X in 2022 estimated in export price. The total production indicated a temperate increase 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 increased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Carbides Exports

Exports in Western Africa

In 2022, carbides exports in Western Africa soared to X tons, with an increase of X% on 2021. In general, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, carbides exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a mild shrinkage. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Sierra Leone represented the largest exporting country with an export of around X tons, which resulted at X% of total exports. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Togo (X tons) and Ghana (X tons). All these countries together took approx. X% share of total exports. Senegal (X tons) took a little share of total exports.

Sierra Leone was also the fastest-growing in terms of the carbides exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%), Ghana (X%), Togo (X%) and Senegal (X%) illustrated a downward trend over the same period. Sierra Leone (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Togo saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Sierra Leone ($X), Cote d'Ivoire ($X) and Togo ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. Overall, the export price posted a resilient expansion. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a 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 Cote d'Ivoire ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

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

Carbides Imports

Imports in Western Africa

In 2022, approx. X tons of carbides were imported in Western Africa; growing by X% against the year before. Total imports indicated a slight increase 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, carbides imports expanded remarkably to $X in 2022. Total imports indicated a perceptible 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Nigeria was the main importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons), Mauritania (X tons), Senegal (X tons) and Burkina Faso (X tons), together generating a X% share of total imports. Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carbides imports into Nigeria stood at X%. At the same time, Mauritania (X%), Benin (X%), Cote d'Ivoire (X%), Ghana (X%), Senegal (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mauritania 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 Mauritania, Cote d'Ivoire, Benin and Ghana increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, carbides imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per ton), while Mauritania ($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 more modest paces of growth.

Source: IndexBox Platform