Western Africa: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Western Africa

After two years of decline, the West African zinc ores and concentrates market increased by 43% to $X in 2021. Over the period under review, consumption recorded a buoyant expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Zinc Ores And Concentrates in Western Africa

In value terms, zinc ores and concentrates production surged to $X in 2021 estimated in export price. In general, production continues to indicate buoyant growth. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports in Western Africa

In 2021, exports of zinc ores and concentrates in Western Africa skyrocketed to X tons, with an increase of 44% against 2020. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 587%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, zinc ores and concentrates exports soared to $X in 2021. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 354%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Burkina Faso represented the major exporter of zinc ores and concentrates in Western Africa, with the volume of exports accounting for X tons, which was approx. 63% of total exports in 2021. It was distantly followed by Nigeria (X tons), generating a 34% share of total exports. Cote d'Ivoire (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were in Burkina Faso (with a CAGR of +17,725.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Burkina Faso ($X) remains the largest zinc ores and concentrates supplier in Western Africa, comprising 81% of total exports. The second position in the ranking was held by Nigeria ($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. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+17.2% per year) and Cote d'Ivoire (-12.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, increasing by 4.1% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. 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 an increase of 30% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

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 Western Africa

In 2021, purchases abroad of zinc ores and concentrates increased by 9% to X tons, rising for the second year in a row after four years of decline. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 578,474%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, zinc ores and concentrates imports soared to $X in 2021. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 255,553% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of zinc ores and concentrates imports in 2021 were Cote d'Ivoire (X tons), together accounting for 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. From 2012 to 2021, the share of Cote d'Ivoire increased by +99 percentage points, 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 Western Africa.

In Cote d'Ivoire, zinc ores and concentrates imports increased at an average annual rate of +49.9% over the period from 2012-2021.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, picking up by 37% against the previous year. Over the period under review, the import price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2014 an increase of 46%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

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