ECOWAS: Furnace Carbon Electrode Market 2024

Furnace Carbon Electrode Market Size in ECOWAS

The ECOWAS furnace carbon electrode market fell remarkably to $X in 2022, which is down by X% against the previous year. In general, consumption, however, showed measured growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Furnace Carbon Electrode Production in ECOWAS

In value terms, furnace carbon electrode production totaled $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Furnace Carbon Electrode Exports

Exports in ECOWAS

In 2021, shipments abroad of carbon electrodes for furnaces increased by X% to X kg, rising for the fifth consecutive year after two years of decline. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, furnace carbon electrode exports skyrocketed to $X in 2021. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Cote d'Ivoire (X kg) was the main exporter of carbon electrodes for furnaces in ECOWAS, mixing up X% of total export.

Cote d'Ivoire was also the fastest-growing in terms of the carbon electrodes for furnaces exports, with a CAGR of X% from 2014 to 2021. While the share of Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest furnace carbon electrode supplier in ECOWAS.

In Cote d'Ivoire, furnace carbon electrode exports increased at an average annual rate of X% over the period from 2014-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. In general, the export price, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2014 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Furnace Carbon Electrode Imports

Imports in ECOWAS

In 2022, approx. X tons of carbon electrodes for furnaces were imported in ECOWAS; waning by X% on 2021 figures. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then reduced remarkably in the following year.

In value terms, furnace carbon electrode imports declined sharply to $X in 2022. Over the period under review, imports, however, showed a notable increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Ghana (X tons), mixing up a X% share of total imports. Senegal (X tons) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of carbon electrodes for furnaces. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Senegal increased by X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported carbon electrodes for furnaces in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated noticeable 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, furnace carbon electrode import price decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform