Western Africa: Market for Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips 2024

Market Size for Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips in Western Africa

The West African market for unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips expanded remarkably to $X in 2022, growing by X% against the previous year. The total consumption indicated tangible growth 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips in Western Africa

In value terms, production of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips expanded slightly to $X in 2022 estimated in export price. The total production indicated a measured increase 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 2017 with an increase of X% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Exports in Western Africa

In 2022, shipments abroad of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips increased by X% to X kg for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips surged to $X in 2022. Overall, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Senegal prevails in tips structure, accounting for X kg, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X kg) and Guinea (X kg), together achieving a X% share of total exports. Ghana (X kg) and Sierra Leone (X kg) took a little share of total exports.

Senegal was also the fastest-growing in terms of the unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Sierra Leone experienced a relatively flat trend pattern. By contrast, Guinea (X%) and Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while Guinea and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest unmounted tool inserts, sticks or plates supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

In Ghana, exports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 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 Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Imports of Unmounted Tool Inserts, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Imports in Western Africa

In 2022, after two years of decline, there was significant growth in purchases abroad of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips, when their volume increased by X% to X tons. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips stood at $X in 2022. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Burkina Faso (X tons) represented the key importer of unmounted tool inserts, sintered metal carbides or cermet plates, sticks, tips, achieving X% of total imports. It was distantly followed by Mauritania (X tons), making up a X% share of total imports. Cote d'Ivoire (X tons), Ghana (X tons), Nigeria (X tons) and Mali (X tons) followed a long way behind the leaders.

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

In value terms, the largest unmounted tool inserts, sticks or plates importing markets in Western Africa were Ghana ($X), Burkina Faso ($X) and Mauritania ($X), with a combined X% share of total imports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 Western Africa stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank notably in the following year.

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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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