Western Africa: Market for Ferro-Cerium And Pyrophoric Alloys 2024

Market Size for Ferro-Cerium And Pyrophoric Alloys in Western Africa

The West African ferro-cerium and pyrophoric alloys market expanded modestly to $X in 2021, picking up by 2.4% against the previous year. The market value increased at an average annual rate of +6.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Ferro-Cerium And Pyrophoric Alloys in Western Africa

In value terms, ferro-cerium and pyrophoric alloys production expanded to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.7% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 50%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Ferro-Cerium And Pyrophoric Alloys

Exports in Western Africa

Ferro-cerium and pyrophoric alloys exports reduced slightly to X kg in 2021, waning by -2.2% compared with 2020. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 124,704%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ferro-cerium and pyrophoric alloys exports surged to $X in 2021. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 603,454%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of about X kg, which reached 65% of total exports. It was distantly followed by Ghana (X kg), generating a 35% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +24.4%).

In value terms, Cote d'Ivoire ($X) remains the largest ferro-cerium and pyrophoric alloys supplier in Western Africa, comprising 91% of total exports. The second position in the ranking was held by Ghana ($X), with an 8.6% share of total exports.

In Cote d'Ivoire, ferro-cerium and pyrophoric alloys exports expanded at an average annual rate of +5.0% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, growing by 41% against the previous year. In general, the export price, however, saw a abrupt decrease. The growth pace was the most rapid in 2017 an increase of 384% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+14.3%).

Imports of Ferro-Cerium And Pyrophoric Alloys

Imports in Western Africa

In 2021, imports of ferro-cerium and pyrophoric alloys in Western Africa surged to X tons, jumping by 59% compared with the previous year's figure. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 81% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, ferro-cerium and pyrophoric alloys imports surged to $X in 2021. In general, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Senegal represented the major importer of ferro-cerium and pyrophoric alloys in Western Africa, with the volume of imports reaching X tons, which was approx. 48% of total imports in 2021. Ghana (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (8.7%) and Togo (8.7%). Gambia (X tons), Nigeria (X tons) and Mauritania (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ferro-cerium and pyrophoric alloys imports into Senegal stood at +27.3%. At the same time, Gambia (+39.6%), Cote d'Ivoire (+21.9%) and Ghana (+13.6%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +39.6% from 2012-2021. By contrast, Togo (-8.9%), Nigeria (-19.0%) and Mauritania (-19.7%) illustrated a downward trend over the same period. Senegal (+37 p.p.), Ghana (+7.2 p.p.), Cote d'Ivoire (+5.9 p.p.), Gambia (+3.7 p.p.) and Mauritania (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Togo saw its share reduced by -28% and -29.6% from 2012 to 2021, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported ferro-cerium and pyrophoric alloys in Western Africa, comprising 45% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 16% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled +26.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+24.6% per year) and Ghana (+10.0% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, growing by 23% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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