Western Africa: Market for Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury 2024

Market Size for Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury in Western Africa

In 2023, the West African market for alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury increased by X% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2023 and is likely to continue growth in the near future.

Production of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury in Western Africa

In value terms, alkali and rare earth metals production soared to $X in 2023 estimated in export price. Overall, production recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

Exports in Western Africa

In 2023, overseas shipments of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, alkali and rare earth metals exports shrank significantly to $X in 2023. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then dropped markedly in the following year.

Exports by Country

The biggest shipments were from Nigeria (X tons), together accounting for X% of total export.

Nigeria was also the fastest-growing in terms of the alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury exports, with a CAGR of X% from 2012 to 2023. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest alkali and rare earth metals supplier in Western Africa.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Imports of Alkali or Alkaline-Earth Metals, Rare-Earth Metals, Scandium and Yttrium, Mercury

Imports in Western Africa

In 2023, supplies from abroad of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, imports saw a perceptible expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, alkali and rare earth metals imports skyrocketed to $X in 2023. Over the period under review, imports showed a prominent increase. The growth pace was the most rapid in 2022 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

In 2023, Nigeria (X tons) represented the key importer of alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury, making up X% of total imports. Togo (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Niger (X%), Cote d'Ivoire (X%) and Ghana (X%). Mauritania (X tons) held a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X) constitutes the largest market for imported alkali or alkaline-earth metals, rare-earth metals, scandium and yttrium, mercury in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Niger, with an X% share.

In Togo, alkali and rare earth metals imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Niger (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform