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

Western Africa - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Tungsten Market 2024

Tungsten Market Size in Western Africa

The West African tungsten market was estimated at $X in 2022, remaining relatively unchanged against 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 only minor fluctuations in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tungsten Production in Western Africa

In value terms, tungsten production amounted to $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 consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 3.3%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Tungsten Exports

Exports in Western Africa

In 2016, tungsten exports in Western Africa was estimated at X kg, therefore, remained relatively stable against the previous year's figure. Over the period under review, exports continue to indicate a sharp curtailment. The smallest decline of 99.9% was in 2013. The volume of export peaked 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. Overall, exports continue to indicate a dramatic descent. The smallest decline of 99.9% was in 2013. The level of export peaked at $X in 2012; however, from 2013 to 2016, the exports remained at a lower figure.

Export Prices by Country

In 2016, the export price in Western Africa amounted to $X per ton, declining by -26.8% against the previous year. Overall, the export price showed a significant decline. The most prominent rate of growth was recorded in 2013 a decrease of -26.8% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2016, the export prices remained at a 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 Western Africa

In 2022, purchases abroad of tungsten decreased by -48% to X kg for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a deep contraction. The growth pace was the most rapid in 2015 with an increase of 166%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, tungsten imports contracted notably to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. 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 key importer of tungsten, achieving 61% of total imports. It was distantly followed by Nigeria (X kg), constituting a 37% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +17.6%).

In value terms, the largest tungsten importing markets in Western Africa were Burkina Faso ($X) and Nigeria ($X).

Among the main importing countries, Nigeria, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of 44% against the previous year. In general, the import price continues to indicate strong growth. The growth pace was the most rapid in 2015 an increase of 217%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

Frequently Asked Questions (FAQ) :

Nigeria remains the largest tungsten consuming country in Western Africa, comprising approx. 100% of total volume.
Nigeria remains the largest tungsten producing country in Western Africa, comprising approx. 100% of total volume.
In value terms, Burkina Faso constitutes the largest market for imported tungsten in Western Africa, comprising 68% of total imports. The second position in the ranking was occupied by Nigeria, with a 29% share of total imports.
In 2016, the export price in Western Africa amounted to $109,600 per ton, waning by -36.3% against the previous year.
The import price in Western Africa stood at $28,502 per ton in 2021, picking up by 42% against the previous year.

This report provides an in-depth analysis of the tungsten market in Western Africa. 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:

    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Production in Western Africa, split by region and country
    • Trade (exports and imports) in Western Africa
    • 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
      • Mauritania
      • Niger
      • Nigeria
      • Saint Helena, Ascension and Tristan da Cunha
      • 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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