Western Africa: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Western Africa

The West African zinc ores and concentrates market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption continues to indicate prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Zinc Ores And Concentrates in Western Africa

In value terms, zinc ores and concentrates production rose remarkably to $X in 2022 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Exports of Zinc Ores And Concentrates

Exports in Western Africa

After two years of growth, overseas shipments of zinc ores and concentrates decreased by X% to X tons in 2022. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, zinc ores and concentrates exports reduced notably to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined significantly in the following year.

Exports by Country

In 2022, Burkina Faso (X tons) and Nigeria (X tons) represented the largest exporters of zinc ores and concentrates in Western Africa, together finishing at near X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), mixing up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Burkina Faso ($X) remains the largest zinc ores and concentrates supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Burkina Faso totaled X.4%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price 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, zinc ores and concentrates export price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Imports of Zinc Ores And Concentrates

Imports in Western Africa

In 2022, imports of zinc ores and concentrates in Western Africa dropped rapidly to X tons, declining by X% compared with 2021. In general, imports recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, zinc ores and concentrates imports declined sharply to $X in 2022. Overall, imports recorded a abrupt decrease. The growth pace was the most rapid in 2015 when imports increased by X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cabo Verde (X tons) was the largest importer of zinc ores and concentrates, committing X% of total imports. It was distantly followed by Nigeria (X tons) and Mali (X tons), together comprising a X% share of total imports. Sierra Leone (X kg) took a relatively small share of total imports.

Imports into Cabo Verde increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Sierra Leone (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Cabo Verde (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cabo Verde ($X) constitutes the largest market for imported zinc ores and concentrates in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by Sierra Leone, with a X% share.

In Cabo Verde, zinc ores and concentrates imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Sierra Leone (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a significant increase. As a result, import price reached 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 Sierra Leone ($X per ton), while Mali ($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 more modest paces of growth.

Source: IndexBox Platform

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