ECOWAS: Market for Tin Ores And Concentrates 2025

Market Size for Tin Ores And Concentrates in ECOWAS

The ECOWAS tin ores and concentrates market plummeted to $X in 2022, declining by -28% against the previous year. Over the period under review, consumption, however, recorded a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Tin Ores And Concentrates in ECOWAS

In value terms, tin ores and concentrates production contracted significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Tin Ores And Concentrates

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in overseas shipments of tin ores and concentrateses, which increased by 136% to X tons in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 17,416%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tin ores and concentrates exports surged to $X in 2022. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 10,588% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria represented the major exporter of tin ores and concentrateses in ECOWAS, with the volume of exports reaching X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), creating an 11% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tin ores and concentrates exports from Nigeria stood at +24.9%. At the same time, Cote d'Ivoire (+54.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +54.5% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by +10 percentage points.

In value terms, Nigeria ($X) emerged as the largest tin ores and concentrates supplier in ECOWAS, comprising 80% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +16.1%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, which is down by -28.6% against the previous year. Overall, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2021 when the export price increased by 44% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.9%).

Imports of Tin Ores And Concentrates

Imports in ECOWAS

In 2022, supplies from abroad of tin ores and concentrateses decreased by -2.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a perceptible descent. The growth pace was the most rapid in 2015 when imports increased by 1,231% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, tin ores and concentrates imports expanded sharply to $X in 2022. Over the period under review, imports faced a dramatic curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 5,542% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Senegal (X tons) represented roughly 100% of total imports in 2022.

Senegal was also the fastest-growing in terms of the tin ores and concentrateses imports, with a CAGR of +2.8% from 2012 to 2022. While the share of Senegal (+48 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported tin ores and concentrateses in ECOWAS.

In Senegal, tin ores and concentrates imports plunged by an average annual rate of -10.9% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by 9.7% against the previous year. In general, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 986% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to -13.3% per year.

Source: IndexBox Platform