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Western Africa - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Silver Ore Market 2024

Silver Ore Market Size in Western Africa

The West African silver ore market surged to $X in 2021, growing by 148% against the previous year. Overall, consumption, however, continues to indicate a deep slump. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Silver Ore Production in Western Africa

In value terms, silver ore production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 409% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

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Silver Ore Exports

Exports in Western Africa

In 2021, overseas shipments of silver ores and concentrates decreased by -12.2% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 878% against the previous year. The volume of export peaked at X tons in 2020, and then declined in the following year.

In value terms, silver ore exports surged to $X in 2021. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 727% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Nigeria (X tons) represented roughly 100% of total exports in 2021.

Nigeria was also the fastest-growing in terms of the silver ores and concentrates exports, with a CAGR of +30.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest silver ore supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +41.0%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, increasing by 37% against the previous year. Over the period under review, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of 396%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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 +7.8% per year.

Silver Ore Imports

Imports in Western Africa

In 2021, the amount of silver ores and concentrates imported in Western Africa shrank rapidly to X kg, dropping by -67.3% against 2020 figures. Over the period under review, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 when imports increased by 421% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, silver ore imports shrank sharply to $X in 2021. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 240%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mali (X kg) represented the largest importer of silver ores and concentrates, generating 89% of total imports. It was distantly followed by Burkina Faso (X kg), making up an 11% share of total imports.

Mali was also the fastest-growing in terms of the silver ores and concentrates imports, with a CAGR of +16.6% from 2012 to 2021. At the same time, Burkina Faso (+13.0%) displayed positive paces of growth. Mali (+32 p.p.) and Burkina Faso (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) constitutes the largest market for imported silver ores and concentrates in Western Africa, comprising 88% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mali totaled +50.5%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, increasing by 120% against the previous year. In general, the import price, however, faced a deep contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Burkina Faso ($X per ton), while Mali amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+29.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for silver ores and concentrates in Western Africa?

Nigeria remains the largest silver ore consuming country in Western Africa, accounting for 88% of total volume. Moreover, silver ore consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Mali, more than tenfold. Ghana ranked third in terms of total consumption with a 2.8% share.

What are the largest producers of silver ores and concentrates in Western Africa?

Nigeria remains the largest silver ore producing country in Western Africa, accounting for 99% of total volume.

What are the leading suppliers of silver ores and concentrates in Western Africa?

In value terms, Nigeria remains the largest silver ore supplier in Western Africa.

What are the leading importers of silver ores and concentrates in Western Africa?

In value terms, Mali constitutes the largest market for imported silver ores and concentrates in Western Africa, comprising 88% of total imports. The second position in the ranking was taken by Burkina Faso, with a 12% share of total imports.

What is the average export price for silver ores and concentrates in Western Africa?

In 2021, the export price in Western Africa amounted to $15,457 per ton, jumping by 37% against the previous year.

What is the average import price for silver ores and concentrates in Western Africa?

The import price in Western Africa stood at $42,035 per ton in 2021, with an increase of 120% against the previous year.

This report provides an in-depth analysis of the silver ore market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07291410 -

Country coverage:

Benin
Burkina Faso
Cabo Verde
Cote d'Ivoire
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023