ECOWAS: Graphite Non-Electrical Articles Market 2024

Graphite Non-Electrical Articles Market Size in ECOWAS

The ECOWAS graphite non-electrical articles market surged to $X in 2021, increasing by 59% against the previous year. Overall, consumption, however, posted a strong expansion. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Graphite Non-Electrical Articles Production in ECOWAS

In value terms, graphite non-electrical articles production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 70% against the previous year. The level of production peaked in 2021 and is expected to retain growth in the near future.

Graphite Non-Electrical Articles Exports

Exports in ECOWAS

In 2021, overseas shipments of non-electrical articles of graphite or other carbon increased by 66% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of 790% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, graphite non-electrical articles exports surged to $X in 2021. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 1,158% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Sierra Leone (X tons) represented the largest exporter of non-electrical articles of graphite or other carbon, comprising 42% of total exports. Nigeria (X kg) ranks second in terms of the total exports with a 27% share, followed by Cote d'Ivoire (26%). Togo (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of +53.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest graphite non-electrical articles supplying countries in ECOWAS were Nigeria ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), together comprising 97% of total exports.

Nigeria, with a CAGR of +66.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, growing by 64% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, graphite non-electrical articles export price increased by +81.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+8.4%), while the other leaders experienced mixed trends in the export price figures.

Graphite Non-Electrical Articles Imports

Imports in ECOWAS

Graphite non-electrical articles imports surged to X tons in 2021, jumping by 216% compared with 2020. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 434%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, graphite non-electrical articles imports soared to $X in 2021. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 181% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was near 87% of total imports in 2021. Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Niger (X tons) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +19.9% from 2012 to 2021. At the same time, Niger (+29.1%), Ghana (+24.4%), Senegal (+18.1%) and Cote d'Ivoire (+6.7%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +29.1% from 2012-2021. Nigeria (+11 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by -2.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported non-electrical articles of graphite or other carbon in ECOWAS, comprising 40% of total imports. The second position in the ranking was taken by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to +7.2%. In the other countries, the average annual rates were as follows: Ghana (+17.4% per year) and Cote d'Ivoire (+2.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, waning by -58% against the previous year. Overall, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when the import price increased by 345%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Niger (+6.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform