Report Update May 1, 2024

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

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Western Africa: Fluorspar Market 2024

Fluorspar Market Size in Western Africa

The West African fluorspar market reduced markedly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption recorded a deep slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Fluorspar Production in Western Africa

In value terms, fluorspar production contracted remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fluorspar Exports

Exports in Western Africa

In 2022, approx. X tons of fluorspar were exported in Western Africa; with an increase of X% on the previous year's figure. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, fluorspar exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, Nigeria (X tons) represented the key exporter of fluorspar in Western Africa, mixing up X% of total export.

Nigeria was also the fastest-growing in terms of the fluorspar exports, with a CAGR of X% from 2014 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In Nigeria, fluorspar exports expanded at an average annual rate of X% over the period from 2014-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, faced a deep reduction. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2014 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Fluorspar Imports

Imports in Western Africa

In 2022, purchases abroad of fluorspar decreased by X% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, fluorspar imports shrank sharply to $X in 2022. In general, imports showed a deep downturn. The pace of growth was the most pronounced in 2019 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria was the main importer of fluorspar in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Guinea (X tons) took the second position in the ranking, followed by Ghana (X tons). All these countries together held approx. X% share of total imports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fluorspar imports into Nigeria stood at X%. At the same time, Senegal (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Guinea (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported fluorspar in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

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: Ghana (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Import price indicated pronounced growth 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, fluorspar import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fluorspar in Western Africa?

The country with the largest volume of fluorspar consumption was Nigeria, comprising approx. 69% of total volume. Moreover, fluorspar consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Guinea, fivefold. Ghana ranked third in terms of total consumption with an 8.1% share.

What are the largest producers of fluorspar in Western Africa?

Nigeria remains the largest fluorspar producing country in Western Africa, comprising approx. 99.9% of total volume.

What are the leading exporters of fluorspar in Western Africa?

In value terms, Nigeria remains the largest fluorspar supplier in Western Africa.

What are the leading importers of fluorspar in Western Africa?

In value terms, Nigeria constitutes the largest market for imported fluorspar in Western Africa, comprising 78% of total imports. The second position in the ranking was taken by Ghana, with an 8.6% share of total imports. It was followed by Guinea, with a 2.3% share.

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

The export price in Western Africa stood at $140 per ton in 2022, picking up by 32% against the previous year.

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

The import price in Western Africa stood at $519 per ton in 2022, growing by 28% against the previous year.

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

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