Western Africa - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Iron Ore Market 2024
Iron Ore Market Size in Western Africa
The West African iron ore market skyrocketed to $X in 2023, picking up by X% against the previous year. Overall, consumption showed tangible growth. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.
Iron Ore Production in Western Africa
In value terms, iron ore production expanded sharply to $X in 2023 estimated in export price. In general, production saw a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.
Iron Ore Exports
Exports in Western Africa
In 2023, exports of iron ores and concentrates in Western Africa declined to X tons, shrinking by X% against 2022 figures. Total exports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.
In value terms, iron ore exports rose to $X in 2023. Total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2021; afterwards, it flattened through to 2023.
Exports by Country
Mauritania represented the main exporting country with an export of around X tons, which finished at X% of total exports. Liberia (X tons) held the second position in the ranking, followed by Sierra Leone (X tons). All these countries together held approx. X% share of total exports. Guinea (X tons) held a little share of total exports.
Mauritania experienced a relatively flat trend pattern with regard to volume of exports of iron ores and concentrates. At the same time, Sierra Leone (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. Guinea experienced a relatively flat trend pattern. Sierra Leone (X p.p.) and Liberia (X p.p.) significantly strengthened its position in terms of the total exports, while Mauritania saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Mauritania ($X) remains the largest iron ore supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Liberia ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.
In Mauritania, iron ore exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Liberia (X% per year) and Sierra Leone (X% per year).
Export Prices by Country
In 2023, the export price in Western Africa amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while Guinea ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritania (X%), while the other leaders experienced a decline in the export price figures.
Iron Ore Imports
Imports in Western Africa
After six years of growth, purchases abroad of iron ores and concentrates decreased by X% to X tons in 2023. In general, imports, however, saw a moderate increase. The pace of growth was the most pronounced in 2019 when imports increased by X%. The volume of import peaked at X tons in 2022, and then contracted slightly in the following year.
In value terms, iron ore imports fell modestly to $X in 2023. Overall, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, Mauritania (X tons) represented the largest importer of iron ores and concentrates, making up X% of total imports. It was distantly followed by Guinea (X tons), constituting a X% share of total imports. Nigeria (X tons) took a little share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mauritania (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.
In value terms, Mauritania ($X) constitutes the largest market for imported iron ores and concentrates in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports.
In Mauritania, iron ore imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).
Import Prices by Country
In 2023, the import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the iron ore 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:
- Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
- Prodcom 07101010 -
- Prodcom 07101020 -
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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. 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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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