Western Africa: Market for Compounds Of Rare-Earth Metals, Of Yttrium Or Of Scandium Or Mixtures Of These Metals 2024

Market Size for Compounds Of Rare-Earth Metals, Of Yttrium Or Of Scandium Or Mixtures Of These Metals in Western Africa

The West African compounds of rare-earth metals market amounted to $X in 2022, remaining stable against the previous year. The total consumption indicated buoyant 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. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Compounds Of Rare-Earth Metals, Of Yttrium Or Of Scandium Or Mixtures Of These Metals in Western Africa

In value terms, compounds of rare-earth metals production stood at $X in 2022 estimated in export price. The total production indicated buoyant 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Compounds Of Rare-Earth Metals, Of Yttrium Or Of Scandium Or Mixtures Of These Metals

Exports in Western Africa

In 2021, the amount of compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals exported in Western Africa skyrocketed to X kg, rising by X% on the year before. In general, exports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X kg. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, compounds of rare-earth metals exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Nigeria (X kg) represented the main exporter of compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals in Western Africa, comprising X% of total export.

Nigeria was also the fastest-growing in terms of the compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals exports, with a CAGR of X% from 2012 to 2021. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled X%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, waning by X% against the previous year. In general, the export price saw a abrupt shrinkage. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Imports of Compounds Of Rare-Earth Metals, Of Yttrium Or Of Scandium Or Mixtures Of These Metals

Imports in Western Africa

In 2022, the amount of compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals imported in Western Africa surged to X tons, with an increase of X% compared with 2021. In general, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, compounds of rare-earth metals imports reduced slightly to $X in 2022. Over the period under review, imports, however, showed a dramatic curtailment. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mauritania dominates imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Nigeria (X tons), making up a X% share of total imports.

Mauritania was also the fastest-growing in terms of the compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals imports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. While the share of Mauritania (X p.p.) and Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported compounds of rare-earth metals, of yttrium or of scandium or mixtures of these metals in Western Africa, comprising X% of total imports. The second position in the ranking was held by Mauritania ($X), with a X% share of total imports.

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

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price recorded a dramatic descent. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Mauritania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Source: IndexBox Platform

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