Western Africa: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Western Africa

The West African zirconium ore and concentrate market declined dramatically to $X in 2022, waning by X% against the previous year. Overall, consumption, however, saw a deep setback. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Zirconium Ores and Concentrates in Western Africa

In value terms, zirconium ore and concentrate production fell to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Zirconium Ores and Concentrates

Exports in Western Africa

In 2022, the amount of zirconium ores and concentrates exported in Western Africa reduced to X tons, with a decrease of X% compared with 2021. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, zirconium ore and concentrate exports soared to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Senegal (X tons) represented the key exporter of zirconium ores and concentrates, making up X% of total exports. It was distantly followed by Sierra Leone (X tons), generating a X% share of total exports. Nigeria (X tons) and Gambia (X tons) held a minor share of total exports.

Senegal was also the fastest-growing in terms of the zirconium ores and concentrates exports, with a CAGR of X% from 2012 to 2022. At the same time, Gambia (X%), Nigeria (X%) and Sierra Leone (X%) displayed positive paces of growth. While the share of Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) and Sierra Leone (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest zirconium ore and concentrate supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

In Senegal, zirconium ore and concentrate exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sierra Leone (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Gambia ($X per ton) was amongst the lowest.

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

Imports of Zirconium Ores and Concentrates

Imports in Western Africa

After two years of growth, overseas purchases of zirconium ores and concentrates decreased by X% to X tons in 2022. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, zirconium ore and concentrate imports declined remarkably to $X in 2022. Overall, imports saw a deep setback. The growth pace was the most rapid in 2020 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the one major importers of zirconium ores and concentrates, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the zirconium ores and concentrates imports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Nigeria increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported zirconium ores and concentrates in Western Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zirconium ore and concentrate import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Source: IndexBox Platform

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