Western Africa: Prepared Binders Market 2024

Prepared Binders Market Size in Western Africa

The West African prepared binders market expanded modestly to $X in 2022, surging by X% against the previous year. In general, consumption showed a significant increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Prepared Binders Production in Western Africa

In value terms, prepared binders production expanded slightly to $X in 2022 estimated in export price. Overall, production saw a significant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Prepared Binders Exports

Exports in Western Africa

In 2022, approx. X tons of prepared binders for foundry moulds or cores were exported in Western Africa; growing by X% compared with the year before. In general, exports showed a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, prepared binders exports soared to $X in 2022. Overall, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Nigeria (X tons) and Senegal (X tons), together amounting to X% of total export.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%).

In value terms, Nigeria ($X) remains the largest prepared binders supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with an X% share of total exports.

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

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Nigeria ($X per ton), while Senegal totaled $X per ton.

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

Prepared Binders Imports

Imports in Western Africa

In 2022, overseas purchases of prepared binders for foundry moulds or cores decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted notably in the following year.

In value terms, prepared binders imports contracted dramatically to $X in 2022. Overall, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Ghana was the largest importer of prepared binders for foundry moulds or cores in Western Africa, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Nigeria (X tons), Burkina Faso (X tons) and Liberia (X tons), together creating a X% share of total imports. Togo (X tons), Mauritania (X tons) and Cote d'Ivoire (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to prepared binders imports into Ghana stood at X%. At the same time, Burkina Faso (X%), Liberia (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mauritania experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Burkina Faso, Nigeria, Liberia and Togo increased by X, X, X, X and X percentage points, respectively.

In value terms, the largest prepared binders importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Burkina Faso ($X), together accounting for X% of total imports.

Burkina Faso, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the import price in Western Africa amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, recorded a abrupt descent. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Mauritania ($X per ton), while Ghana ($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.

Source: IndexBox Platform

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