Updated Nov 22, 2022 16:32

Market for Refractory Products of Siliceous or Diatomite Earths in Rwanda

Market Overview
The Rwandan market for refractory products of siliceous or diatomite earths surged to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a buoyant increase. Over the period under review, the market attained the peak level in and is expected to retain growth in years to come.


Consumption
In , after four years of growth, there was decline in consumption of refractory products of siliceous or diatomite earths, when its volume decreased by -% to tons. Over the period under review, consumption, however, posted a prominent expansion. Over the period under review, consumption of hit record highs at tons in , and then shrank slightly in the following year.

The value of the market for refractory products of siliceous or diatomite earths in Rwanda declined modestly to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a strong increase. Over the period under review, the market hit record highs at $ in , and then reduced slightly in the following year.


Market Forecast
The market for refractory products of siliceous or diatomite earths is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Rwanda remains a net importer of refractory products of siliceous or diatomite earths; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.