ECOWAS: Graphite Market 2024

Graphite Market Size in ECOWAS

In 2022, after two years of growth, there was significant decline in the ECOWAS graphite market, when its value decreased by X% to $X. Over the period under review, consumption, however, showed resilient growth. As a result, consumption attained the peak level of $X, and then contracted rapidly in the following year.

Graphite Production in ECOWAS

In value terms, graphite production stood at $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Graphite Exports

Exports in ECOWAS

After six years of growth, overseas shipments of graphite (natural) decreased by X% to X tons in 2022. Over the period under review, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, graphite exports dropped slightly to $X in 2022. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Niger dominates exports structure, recording X tons, which was near X% of total exports in 2022. It was distantly followed by Sierra Leone (X tons), creating a X% share of total exports. Nigeria (X kg) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to graphite exports from Niger stood at X%. At the same time, Nigeria (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Niger, Nigeria and Sierra Leone increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest graphite supplying countries in ECOWAS were Sierra Leone ($X), Niger ($X) and Nigeria ($X), together comprising X% of total exports.

Sierra Leone, with a CAGR of X%, saw the highest rates of growth with regard to 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

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Niger ($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.

Graphite Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in supplies from abroad of graphite (natural), when their volume decreased by X% to X tons. Over the period under review, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, graphite imports skyrocketed to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which accounted for X% of total imports. It was distantly followed by Burkina Faso (X tons), generating a X% share of total imports. Ghana (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to graphite imports into Nigeria stood at X%. At the same time, Burkina Faso (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana experienced a relatively flat trend pattern. While the share of Nigeria (X p.p.) and Burkina Faso (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 ($X) constitutes the largest market for imported graphite (natural) in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total imports.

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: Burkina Faso (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the import price posted a resilient expansion. 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 ($X per ton), while Burkina Faso ($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 a decline in the import price figures.

Source: IndexBox Platform

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