Report Update Apr 1, 2024

Western Africa - Magnesite - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Magnesite Market 2024

Magnesite Market Size in Western Africa

In 2022, the West African magnesite market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a notable increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Magnesite Production in Western Africa

In value terms, magnesite production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

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Magnesite Exports

Exports in Western Africa

In 2022, overseas shipments of magnesite decreased by X% to X kg, falling for the second consecutive year after four years of growth. Overall, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by X,098% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, magnesite exports amounted to $X in 2022. In general, exports showed a significant decrease. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana (X kg) represented roughly X% of total exports in 2022.

Ghana was also the fastest-growing in terms of the magnesite exports, with a CAGR of X% from 2012 to 2022. Ghana (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, Ghana ($X) also remains the largest magnesite supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price posted a significant expansion. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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

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

Magnesite Imports

Imports in Western Africa

In 2022, approx. X tons of magnesite were imported in Western Africa; growing by X% on the previous year. Overall, imports, however, faced a drastic downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, magnesite imports rose significantly to $X in 2022. Over the period under review, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%).

Nigeria was also the fastest-growing in terms of the magnesite imports, with a CAGR of X% from 2012 to 2022. Ghana (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

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

In Nigeria, magnesite imports increased at an average annual rate of X% 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, almost unchanged from the previous year. Import price indicated a tangible increase from 2012 to 2022: its price 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, magnesite import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

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Frequently Asked Questions (FAQ) :

What are the largest markets for magnesite in Western Africa?

Burkina Faso constituted the country with the largest volume of magnesite consumption, accounting for 96% of total volume. It was followed by Nigeria, with a 1.6% share of total consumption.

What are the largest producers of magnesite in Western Africa?

Burkina Faso remains the largest magnesite producing country in Western Africa, accounting for 98% of total volume.

What are the leading suppliers of magnesite in Western Africa?

In value terms, Ghana $69) remains the largest magnesite supplier in Western Africa.

What are the leading importers of magnesite in Western Africa?

In value terms, Nigeria constitutes the largest market for imported magnesite in Western Africa, comprising 61% of total imports. The second position in the ranking was taken by Cote d'Ivoire, with a 25% share of total imports.

What is the average export price for magnesite in Western Africa?

In 2022, the export price in Western Africa amounted to $8,625 per ton, increasing by 14% against the previous year.

What is the average import price for magnesite in Western Africa?

The import price in Western Africa stood at $687 per ton in 2022, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the magnesite 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:

UNCode 16390-1 - Magnesite

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