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Report ECOWAS - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Feb 1, 2025

ECOWAS - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Rare Earth Metal Market 2025

Rare Earth Metal Market Size in ECOWAS

In 2021, the ECOWAS rare earth metal market increased by 44% to $X, rising for the third year in a row after four years of decline. Over the period under review, consumption, however, recorded a sharp contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rare Earth Metal Production in ECOWAS

In value terms, rare earth metal production dropped to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 7.1%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Rare Earth Metal Exports

Exports in ECOWAS

In 2019, approx. X kg of rare earth metals were exported in ECOWAS; surging by 8,700% against the previous year. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, rare earth metal exports surged to $X in 2019. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of rare earth metals, namely Togo, represented more than two-thirds of total export.

Togo was also the fastest-growing in terms of the rare earth metals exports, with a CAGR of +563.3% from 2014 to 2019. While the share of Togo (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2014 to 2019, the average annual growth rate of value in Togo amounted to +495.4%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2019, which is down by -31.9% against the previous year. Over the period under review, the export price showed a mild slump. The pace of growth was the most pronounced in 2017 when the export price increased by 19%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018, and then reduced markedly in the following year.

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

From 2016 to 2019, the rate of growth in terms of prices for Togo amounted to -10.2% per year.

Rare Earth Metal Imports

Imports in ECOWAS

In 2021, supplies from abroad of rare earth metals increased by 58% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 1,083% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, rare earth metal imports dropped to $X in 2021. In general, imports, however, saw a precipitous setback. The pace of growth was the most pronounced in 2019 when imports increased by 615%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons) represented the largest importer of rare earth metals in ECOWAS, constituting 100% of total import.

Nigeria was also the fastest-growing in terms of the rare earth metals imports, with a CAGR of +37.1% from 2012 to 2021. Nigeria (+97 p.p.) significantly strengthened its position in terms of the total imports, 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 rare earth metals in ECOWAS.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +19.5%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, declining by -39.6% against the previous year. Overall, the import price faced a deep slump. The growth pace was the most rapid in 2015 an increase of 124% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -12.9% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the rare earth metal 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:

    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:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2024
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2024
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 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. 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

    12. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms, 2012–2024
      3. Market Value, 2012–2024
      4. Per Capita Consumption, By Country, 2018–2024
      5. Production, In Physical Terms, By Country, 2012–2024
      6. Imports, In Physical Terms, By Country, 2012–2024
      7. Imports, In Value Terms, By Country, 2012–2024
      8. Import Prices, By Country Of Destination, 2012–2024
      9. Exports, In Physical Terms, By Country, 2012–2024
      10. Exports, In Value Terms, By Country, 2012–2024
      11. Export Prices, By Country Of Origin, 2012–2024

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2024
      2. Market Value, 2012–2024
      3. Consumption, By Country, 2024
      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, 2012–2024
      18. Production, In Value Terms, 2012–2024
      19. Production, By Country, 2024
      20. Production, In Physical Terms, By Country, 2012–2024
      21. Imports, In Physical Terms, 2012–2024
      22. Imports, In Value Terms, 2012–2024
      23. Imports, In Physical Terms, By Country, 2024
      24. Imports, In Physical Terms, By Country, 2012–2024
      25. Imports, In Value Terms, By Country, 2012–2024
      26. Import Prices, By Country, 2012–2024
      27. Exports, In Physical Terms, 2012–2024
      28. Exports, In Value Terms, 2012–2024
      29. Exports, In Physical Terms, By Country, 2024
      30. Exports, In Physical Terms, By Country, 2012–2024
      31. Exports, In Value Terms, By Country, 2012–2024
      32. Export Prices, 2012–2024

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