ECOWAS: Market for Manganites, Manganates And Permanganates, Molybdates And Tungstates 2024

Market Size for Manganites, Manganates And Permanganates, Molybdates And Tungstates in ECOWAS

The ECOWAS market for manganites, manganates and permanganates, molybdates and tungstates contracted slightly to $X in 2023, approximately reflecting the previous year. The total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Manganites, Manganates And Permanganates, Molybdates And Tungstates in ECOWAS

In value terms, manganites, manganates, molybdates and tungstates production shrank modestly to $X in 2023 estimated in export price. Overall, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Exports in ECOWAS

In 2023, shipments abroad of manganites, manganates and permanganates, molybdates and tungstates decreased by X% to X kg, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, manganites, manganates, molybdates and tungstates exports soared to $X in 2023. Overall, exports faced a sharp slump. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Ghana (X kg) represented roughly X% of total exports in 2023.

Ghana was also the fastest-growing in terms of the manganites, manganates and permanganates, molybdates and tungstates exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of Ghana increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana stood at X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Overall, the export price posted strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the rate of growth in terms of prices for Ghana amounted to X% per year.

Imports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Imports in ECOWAS

In 2023, after two years of decline, there was significant growth in overseas purchases of manganites, manganates and permanganates, molybdates and tungstates, when their volume increased by X% to X tons. In general, imports showed moderate growth. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, manganites, manganates, molybdates and tungstates imports expanded rapidly to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Niger represented the largest importer of manganites, manganates and permanganates, molybdates and tungstates in ECOWAS, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. Nigeria (X tons) took the second position in the ranking, distantly followed by Sierra Leone (X tons). All these countries together took approx. X% share of total imports. The following importers - Mali (X tons), Senegal (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) - each finished at a X% share of total imports.

Niger was also the fastest-growing in terms of the manganites, manganates and permanganates, molybdates and tungstates imports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%) displayed positive paces of growth. Sierra Leone and Mali experienced a relatively flat trend pattern. By contrast, Senegal (X%), Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Niger and Nigeria increased by X and X percentage points, respectively.

In value terms, the largest manganites, manganates, molybdates and tungstates importing markets in ECOWAS were Sierra Leone ($X), Nigeria ($X) and Senegal ($X), with a combined X% share of total imports.

Nigeria, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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

In 2023, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Overall, the import price continues to indicate a noticeable downturn. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the 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 Senegal ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform