ECOWAS: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in ECOWAS

After two years of decline, the ECOWAS zinc ores and concentrates market increased by 43% to $X in 2021. In general, consumption recorded strong growth. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Zinc Ores And Concentrates in ECOWAS

In value terms, zinc ores and concentrates production soared to $X in 2021 estimated in export price. Over the period under review, production showed prominent growth. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Zinc Ores And Concentrates

Exports in ECOWAS

In 2021, approx. X tons of zinc ores and concentrates were exported in ECOWAS; rising by 44% against the previous year's figure. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 587% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, zinc ores and concentrates exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 354%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

In 2021, Burkina Faso (X tons) represented the main exporter of zinc ores and concentrates, mixing up 63% of total exports. It was distantly followed by Nigeria (X tons), comprising a 34% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of +17,725.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Burkina Faso ($X) remains the largest zinc ores and concentrates supplier in ECOWAS, comprising 81% of total exports. The second position in the ranking was held by Nigeria ($X), with a 14% share of total exports.

In Burkina Faso, zinc ores and concentrates exports expanded at an average annual rate of +18,914.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (+17.2% per year) and Cote d'Ivoire (-12.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, increasing by 4.1% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc ores and concentrates export price decreased by -41.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 30%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 Cote d'Ivoire (+7.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Zinc Ores And Concentrates

Imports in ECOWAS

In 2021, supplies from abroad of zinc ores and concentrates increased by 9% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 579,805% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, zinc ores and concentrates imports skyrocketed to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 258,281%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Cote d'Ivoire (X tons) represented the major importer of zinc ores and concentrates in ECOWAS, comprising 99.9% of total import.

Cote d'Ivoire was also the fastest-growing in terms of the zinc ores and concentrates imports, with a CAGR of +9.0% from 2012 to 2021. Cote d'Ivoire (+99 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, Cote d'Ivoire ($X) constitutes the largest market for imported zinc ores and concentrates in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +49.9%.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 37% against the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 when the import price increased by 46% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +37.3% per year.

Source: IndexBox Platform