Report Update Apr 1, 2024

Western Africa - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Tungsten Market 2024

Tungsten Market Size in Western Africa

The West African tungsten market totaled $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Tungsten Production in Western Africa

In value terms, tungsten production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tungsten Exports

Exports in Western Africa

In 2016, the amount of tungsten exported in Western Africa stood at X kg, flattening at 2015. Overall, exports recorded a sharp slump. The smallest decline of X% was in 2013. The volume of export peaked at X tons in 2012; however, from 2013 to 2016, the exports failed to regain momentum.

In value terms, tungsten exports amounted to $X in 2016. In general, exports continue to indicate a dramatic shrinkage. The smallest decline of X% was in 2013. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2016, the exports stood at a somewhat lower figure.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2016, dropping by X% against the previous year. In general, the export price recorded a significant contraction. The growth pace was the most rapid in 2013 when the export price decreased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2016, the export prices stood at a somewhat lower figure.

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

From 2012 to 2016, the rate of growth in terms of prices for Liberia amounted to X% per year.

Tungsten Imports

Imports in Western Africa

In 2022, imports of tungsten in Western Africa shrank notably to X kg, waning by X% on 2021 figures. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, tungsten imports fell markedly to $X in 2022. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Burkina Faso prevails in imports structure, resulting at X kg, which was near X% of total imports in 2022. Ghana (X kg) followed a long way behind the leaders.

Imports into Burkina Faso decreased at an average annual rate of X% from 2012 to 2022. Ghana (X%) illustrated a downward trend over the same period. While the share of 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, Burkina Faso ($X) constitutes the largest market for imported tungsten in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

In Burkina Faso, tungsten 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, increasing by X% against the previous year. Overall, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Ghana stood at $X per ton.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in Western Africa?

Nigeria remains the largest tungsten consuming country in Western Africa, comprising approx. 100% of total volume.

What are the largest producers of tungsten in Western Africa?

Nigeria constituted the country with the largest volume of tungsten production, accounting for 99.9% of total volume.

What are the leading importers of tungsten in Western Africa?

In value terms, Burkina Faso constitutes the largest market for imported tungsten in Western Africa, comprising 96% of total imports. The second position in the ranking was taken by Ghana $117), with a 0.8% share of total imports.

What is the average export price for tungsten in Western Africa?

The export price in Western Africa stood at $109,800 per ton in 2016, which is down by -26.7% against the previous year.

What is the average import price for tungsten in Western Africa?

In 2022, the import price in Western Africa amounted to $85,260 per ton, increasing by 91% against the previous year.

This report provides an in-depth analysis of the tungsten 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:

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