Western Africa: Aluminium Foil Market 2024

Aluminium Foil Market Size in Western Africa

The West African aluminium foil market reduced to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Aluminium Foil Production in Western Africa

In value terms, aluminium foil production reduced remarkably to $X in 2022 estimated in export price. Overall, production recorded a deep slump. The most prominent rate of growth was recorded in 2013 when the production volume decreased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Aluminium Foil Exports

Exports in Western Africa

Aluminium foil exports contracted sharply to X tons in 2022, reducing by X% on the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium foil exports fell to $X in 2022. In general, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Sierra Leone (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons), together reaching X% of total export. Senegal (X tons) took the next position in the ranking, followed by Togo (X tons). All these countries together took approx. X% share of total exports. Mali (X tons) and Ghana (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Mali, Nigeria, Togo and Ghana lagged somewhat behind, together accounting for a further X%.

Ghana, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, saw a perceptible downturn. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Aluminium Foil Imports

Imports in Western Africa

In 2022, supplies from abroad of aluminium foil decreased by X% to X tons, falling for the second year in a row after six years of growth. Overall, imports, however, continue to indicate measured growth. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium foil imports rose to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of aluminium foil, constituting X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%) and Senegal (X%). Burkina Faso (X tons), Mali (X tons) and Guinea (X tons) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of aluminium foil. At the same time, Guinea (X%), Cote d'Ivoire (X%), Burkina Faso (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. 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, jumping by X% against the previous year. Overall, the import price, however, saw a mild curtailment. The level of import peaked at $X per ton in 2014; however, from 2015 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 Burkina Faso ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform