Report Western Africa - Platinum - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Nov 16, 2022

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

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Western Africa: Platinum Market 2022

Platinum Market Size in Western Africa

In 2021, the West African platinum market increased by 3.3% to $X for the first time since 2012, thus ending a eight-year declining trend. Overall, consumption, however, saw a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Platinum Production in Western Africa

In value terms, platinum production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt decline. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Platinum Exports

Exports in Western Africa

In 2021, after three years of decline, there was significant growth in shipments abroad of platinum, when their volume increased by 23,300% to X kg. Overall, exports recorded a significant expansion. Over the period under review, the exports reached the maximum at X kg in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, platinum exports soared to $X in 2021. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 7,331% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Nigeria (X kg) was the largest exporter of platinum in Western Africa, generating 100% of total export.

Nigeria was also the fastest-growing in terms of the platinum exports, with a CAGR of +26.6% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest platinum supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +7.3%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per kg, falling by -78.1% against the previous year. In general, the export price showed a abrupt downturn. The growth pace was the most rapid in 2013 an increase of 658% against the previous year. As a result, the export price reached the peak level of $X per kg. From 2014 to 2021, the the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -15.3% per year.

Platinum Imports

Imports in Western Africa

In 2021, approx. X kg of platinum were imported in Western Africa; rising by 42% on the previous year. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,586%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, platinum imports soared to $X in 2021. In general, imports, however, saw a noticeable reduction. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Ghana was the key importing country with an import of about X kg, which accounted for 55% of total imports. It was distantly followed by Gambia (X kg), generating a 36% share of total imports. Burkina Faso (X kg), Cote d'Ivoire (X kg) and Guinea (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Gambia (with a CAGR of +80.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest platinum importing markets in Western Africa were Guinea ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising 57% of total imports. Gambia and Burkina Faso lagged somewhat behind, together comprising a further 7.6%.

Gambia, with a CAGR of +76.5%, saw 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 kg in 2021, surging by 17% against the previous year. In general, the import price, however, saw a deep setback. The most prominent rate of growth was recorded in 2015 when the import price increased by 1,659% against the previous year. As a result, import price attained the peak level of $X per kg. From 2016 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guinea ($X per kg), while Gambia ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for platinum in Western Africa?
+
Nigeria constituted the country with the largest volume of platinum consumption, accounting for 59% of total volume. Moreover, platinum consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Niger, sevenfold. The third position in this ranking was taken by Burkina Faso, with a 6.3% share.
What are the largest producers of platinum in Western Africa?
+
Nigeria remains the largest platinum producing country in Western Africa, comprising approx. 59% of total volume. Moreover, platinum production in Nigeria exceeded the figures recorded by the second-largest producer, Niger, sevenfold. The third position in this ranking was taken by Burkina Faso, with a 6.3% share.
What are the leading exporters of platinum in Western Africa?
+
In value terms, Nigeria remains the largest platinum supplier in Western Africa.
What are the leading importers of platinum in Western Africa?
+
In value terms, Guinea, Cote d'Ivoire and Ghana appeared to be the countries with the highest levels of imports in 2021, together comprising 57% of total imports. Gambia and Burkina Faso lagged somewhat behind, together comprising a further 7.6%.
What is the average export price for platinum in Western Africa?
+
The export price in Western Africa stood at $279 per kg in 2021, waning by -78.1% against the previous year.
What is the average import price for platinum in Western Africa?
+
The import price in Western Africa stood at $236 per kg in 2021, picking up by 17% against the previous year.

This report provides an in-depth analysis of the platinum 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 24413010 -
• Prodcom 24413015 -
• Prodcom 24413020 -
• Prodcom 24413025 -
• Prodcom 24413040 -
• Prodcom 24413045 -
• Prodcom 24413055 -
• Prodcom 24413060 -
• Prodcom 24413065 -
• Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
• Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
• Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)
Country coverage:
• Benin
• Burkina Faso
• Cabo Verde
• Cote d'Ivoire
• Gambia
• Guinea
• Guinea-Bissau
• Liberia
• Mali
• Mauritania
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• 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
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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