Western Africa: Lead Market 2024

Lead Market Size in Western Africa

The West African lead market declined slightly to $X in 2022, waning by -3% against the previous year. Over the period under review, consumption saw a mild contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Lead Production in Western Africa

In value terms, lead production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2016 when the production volume increased by 12%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Lead Exports

Exports in Western Africa

In 2022, approx. X tons of lead were exported in Western Africa; picking up by 18% against 2021 figures. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 166% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, lead exports skyrocketed to $X in 2022. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 106% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Nigeria represented the main exporter of lead in Western Africa, with the volume of exports accounting for X tons, which was near 81% of total exports in 2022. It was distantly followed by Ghana (X tons), creating a 14% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the lead exports, with a CAGR of +14.0% from 2012 to 2022. At the same time, Ghana (+5.6%) and Senegal (+4.5%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria increased by +16 percentage points.

In value terms, Nigeria ($X) remains the largest lead supplier in Western Africa, comprising 76% of total exports. The second position in the ranking was taken by Ghana ($X), with an 18% share of total exports.

In Nigeria, lead exports increased at an average annual rate of +6.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+6.2% per year) and Senegal (+4.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, growing by 13% against the previous year. Overall, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the export price increased by 22%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Lead Imports

Imports in Western Africa

In 2022, supplies from abroad of lead was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 95%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, lead imports reduced to $X in 2022. Overall, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 85%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Senegal was the main importing country with an import of around X tons, which resulted at 70% of total imports. It was distantly followed by Nigeria (X tons), comprising a 20% share of total imports. Mauritania (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to lead imports into Senegal stood at +1.4%. At the same time, Mauritania (+44.3%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +44.3% from 2012-2022. By contrast, Nigeria (-20.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Mauritania increased by +50 and +2.3 percentage points, respectively.

In value terms, the largest lead importing markets in Western Africa were Senegal ($X), Nigeria ($X) and Mauritania ($X), together comprising 84% of total imports.

Mauritania, with a CAGR of +29.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, shrinking by -17% against the previous year. Over the period under review, the import price saw a perceptible curtailment. The pace of growth appeared the most rapid in 2013 an increase of 56%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :