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Report ECOWAS - Tungsten - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

ECOWAS - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Tungsten Market 2024

Tungsten Market Size in ECOWAS

The ECOWAS tungsten market reached $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tungsten Production in ECOWAS

In value terms, tungsten production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 3.3%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tungsten Exports

Exports in ECOWAS

Tungsten exports stood at X kg in 2016, therefore, remained relatively stable against the previous year. Overall, exports showed a dramatic contraction. The smallest decline of 99.9% was in 2013. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2016, the exports remained at a lower figure.

In value terms, tungsten exports totaled $X in 2016. Over the period under review, exports saw a precipitous contraction. The smallest decline of 99.9% was in 2013. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2016, the exports remained at a lower figure.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2016, which is down by -26.8% against the previous year. Over the period under review, the export price showed a precipitous decrease. The pace of growth was the most pronounced in 2013 a decrease of -26.8%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2016, the export prices stood at a somewhat lower figure.

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

From 2012 to 2016, the rate of growth in terms of prices for Liberia amounted to 0.0% per year.

Tungsten Imports

Imports in ECOWAS

After two years of growth, purchases abroad of tungsten decreased by -48% to X kg in 2022. In general, imports recorded a abrupt decline. The growth pace was the most rapid in 2015 when imports increased by 166% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, tungsten imports shrank markedly to $X in 2022. Overall, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 743% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Burkina Faso (X kg) was the major importer of tungsten, generating 61% of total imports. It was distantly followed by Nigeria (X kg), committing a 37% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +17.6%).

In value terms, Burkina Faso ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022.

Nigeria, with a CAGR of +12.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, jumping by 44% against the previous year. Overall, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 an increase of 217% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+19.7%).

Source: IndexBox Platform

This report provides an in-depth analysis of the tungsten 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:

    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 2012–2023
      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 2012–2023
      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 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

    13. 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

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