Report Update Nov 1, 2024

ECOWAS - Artificial Corundum - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Artificial Corundum Market 2024

Artificial Corundum Market Size in ECOWAS

In 2021, after two years of growth, there was significant decline in the ECOWAS artificial corundum market, when its value decreased by -8.5% to $X. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Artificial Corundum Production in ECOWAS

In value terms, artificial corundum production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Artificial Corundum Exports

Exports in ECOWAS

In 2020, shipments abroad of artificial corundum decreased by 0% to X kg, falling for the second year in a row after four years of decline. In general, exports continue to indicate a sharp shrinkage. The smallest decline of -16% was in 2015. The volume of export peaked at X tons in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

In value terms, artificial corundum exports amounted to $X in 2020. Over the period under review, exports faced a dramatic downturn. The smallest decline of -12.3% was in 2015. The level of export peaked at $X in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

Export Prices by Country

In 2020, the export price in ECOWAS amounted to $X per ton, surging by 831% against the previous year. In general, the export price enjoyed a significant increase. The growth pace was the most rapid in 2017 an increase of 831%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2020.

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

From 2012 to 2020, the rate of growth in terms of prices for Sierra Leone amounted to +56.3% per year.

Artificial Corundum Imports

Imports in ECOWAS

In 2021, imports of artificial corundum in ECOWAS dropped dramatically to X tons, with a decrease of -57.1% against the previous year. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,352%. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, artificial corundum imports reduced rapidly to $X in 2021. Overall, imports, however, showed slight growth. The most prominent rate of growth was recorded in 2020 when imports increased by 1,473% against the previous year. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was near 89% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X tons), achieving a 7.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to artificial corundum imports into Nigeria stood at +32.4%. At the same time, Cote d'Ivoire (+42.3%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +42.3% from 2012-2021. From 2012 to 2021, the share of Nigeria and Cote d'Ivoire increased by +73 and +7.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported artificial corundum in ECOWAS, comprising 82% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +25.9%.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, declining by -25.1% against the previous year. In general, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 65%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.4%).

Source: IndexBox Platform

This report provides an in-depth analysis of the artificial corundum market in ECOWAS. 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 23991500 - Artificial corundum (excluding mechanical mixtures)

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
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
- Niger
- Nigeria
- 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