ECOWAS: Market for Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury 2024

Market Size for Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury in ECOWAS

In 2022, after three years of growth, there was significant decline in the ECOWAS market for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury, when its value decreased by X% to $X. Overall, consumption posted a prominent expansion. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Production of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury in ECOWAS

In value terms, alkali and rare earth metals production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

Exports in ECOWAS

In 2022, approx. X tons of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury were exported in ECOWAS; increasing by X% against the previous year's figure. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, alkali and rare earth metals exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

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

Nigeria was also the fastest-growing in terms of the alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury exports, with a CAGR of X% from 2012 to 2022. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest alkali and rare earth metals supplier in ECOWAS.

In Nigeria, alkali and rare earth metals exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, showed significant growth. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then fell notably in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Imports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

Imports in ECOWAS

In 2022, supplies from abroad of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury was finally on the rise to reach X tons after two years of decline. In general, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, alkali and rare earth metals imports surged to $X in 2022. Overall, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the main importing country with an import of around X tons, which amounted to X% of total imports. Niger (X tons) held the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Togo (X tons). All these countries together took approx. X% share of total imports. Gambia (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Gambia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest alkali and rare earth metals importing markets in ECOWAS were Togo ($X), Nigeria ($X) and Niger ($X), with a combined X% share of total imports. Cote d'Ivoire and Gambia lagged somewhat behind, together comprising a further X%.

Gambia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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

The import price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Togo ($X per ton), while Gambia ($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 a decline in the import price figures.

Source: IndexBox Platform

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