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

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

In 2021, after seven years of growth, there was decline in the ECOWAS market for manganites, manganates and permanganates, molybdates and tungstates, when its value decreased by -0.8% to $X. In general, consumption, however, posted strong growth. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

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

In value terms, manganites, manganates, molybdates and tungstates production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Exports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Exports in ECOWAS

In 2021, approx. X kg of manganites, manganates and permanganates, molybdates and tungstates were exported in ECOWAS; which is down by -86.7% compared with the previous year. Overall, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 14,380% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, manganites, manganates, molybdates and tungstates exports skyrocketed to $X in 2021. Over the period under review, exports showed a dramatic slump. The most prominent rate of growth was recorded in 2015 when exports increased by 7,321% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Niger (X kg), together recording 100% of total export.

Niger experienced a relatively flat trend pattern with regard to volume of exports of manganites, manganates and permanganates, molybdates and tungstates. Niger (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In Niger, manganites, manganates, molybdates and tungstates exports expanded at an average annual rate of +25.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 791% against the previous year. In general, the export price recorded significant growth. The pace of growth was the most pronounced in 2019 when the export price increased by 791% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the rate of growth in terms of prices for Niger amounted to +25.6% per year.

Imports of Manganites, Manganates And Permanganates, Molybdates And Tungstates

Imports in ECOWAS

In 2021, purchases abroad of manganites, manganates and permanganates, molybdates and tungstates increased by 29% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 207%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, manganites, manganates, molybdates and tungstates imports rose sharply to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.9% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 31%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Ghana (X tons) was the major importer of manganites, manganates and permanganates, molybdates and tungstates, creating 75% of total imports. It was distantly followed by Niger (X tons), committing a 13% share of total imports. Benin (X tons), Nigeria (X tons), Senegal (X tons) and Sierra Leone (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to manganites, manganates, molybdates and tungstates imports into Ghana stood at +17.2%. At the same time, Niger (+111.1%), Benin (+55.3%), Senegal (+18.6%) and Nigeria (+13.6%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +111.1% from 2012-2021. Sierra Leone experienced a relatively flat trend pattern. From 2012 to 2021, the share of Niger and Benin increased by +13 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported manganites, manganates and permanganates, molybdates and tungstates in ECOWAS, comprising 51% of total imports. The second position in the ranking was taken by Sierra Leone ($X), with a 15% share of total imports. It was followed by Senegal, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at +14.5%. In the other countries, the average annual rates were as follows: Sierra Leone (+1.0% per year) and Senegal (+32.5% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, declining by -13.5% against the previous year. Overall, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by 76% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sierra Leone ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform