Western Africa: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in Western Africa

In 2022, the West African natural rubber and gum market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated a noticeable 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. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Natural Rubber And Gums in Western Africa

In value terms, natural rubber and gum production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cote d'Ivoire (X tons) constituted the country with the largest volume of natural rubber and gum production, accounting for X% of total volume. Moreover, natural rubber and gum production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Nigeria (X tons), ninefold. The third position in this ranking was taken by Ghana (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Cote d'Ivoire stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Nigeria (X% per year) and Ghana (X% per year).

The average natural rubber and gum yield contracted slightly to X tons per ha in 2022, flattening at 2021. The yield figure 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. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2021, and then reduced modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of natural rubber and gums were harvested in Western Africa; increasing by X% against the year before. In general, the harvested area posted a strong expansion. As a result, the harvested area attained the peak level and is likely to continue growth in the immediate term.

Exports of Natural Rubber And Gums

Exports in Western Africa

In 2022, shipments abroad of natural rubber and gums was finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural rubber and gum exports skyrocketed to $X in 2022. Overall, exports continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of natural rubber and gums, namely Cote d'Ivoire, represented more than two-thirds of total export.

Cote d'Ivoire was also the fastest-growing in terms of the natural rubber and gums exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest natural rubber and gum supplier in Western Africa.

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

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of X%. 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 failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Imports of Natural Rubber And Gums

Imports in Western Africa

In 2022, natural rubber and gum imports in Western Africa soared to X tons, with an increase of X% compared with 2021 figures. In general, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, natural rubber and gum imports skyrocketed to $X in 2022. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Mauritania (X tons), comprising a X% share of total imports. Niger (X tons) took a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%) and Mauritania (X%) displayed positive paces of growth. Moreover, Niger 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 Nigeria and Niger increased by X and X percentage points, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Mauritania (X% per year) and Niger (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked 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 Nigeria ($X per ton), while Niger ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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