In this report we consider 16 countries across West Africa: from Senegal in the west to Cameroon and Gambia in the east, via notable markets such as Côte d’Ivoire, Ghana and - not least - Nigeria.
We value the market in this region at $300 million in 2016. In general, volumes remain relatively modest in this part of the world, so the high value of the business is largely attributable a price-heavy market. The single biggest driver for growth within the industrial gas sector going forward is the hydrocarbon economy growing up around the Gulf of Guinea - partly with a view to servicing oil & gas exploration and exploitation efforts, but also in order to leverage the region’s growing affluence that is likely to lead to rising demand for more consumer-led industrial gas applications. The challenge for governments will be to leverage the region’s mineral wealth (not just hydrocarbon-based, but also in terms of mineral and metal ores) in a manner that yields a sustainable rise in living standards for a meaningful part of the population in the future.
Report Data: 2016