Africa: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Africa

The African steel and iron articles market declined to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Articles Of Iron Or Steel in Africa

In value terms, steel and iron articles production expanded to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Articles Of Iron Or Steel

Exports in Africa

In 2022, overseas shipments of articles of iron or steel increased by X% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, steel and iron articles exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

South Africa (X tons) and Morocco (X tons) were the largest exporters of articles of iron or steel in 2022, amounting to near X% and X% of total exports, respectively. Tunisia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Morocco (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the largest steel and iron articles supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Morocco ($X), with a X% share of total exports. It was followed by Tunisia, with an X% share.

In South Africa, steel and iron articles exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (X% per year) and Tunisia (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

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

Imports of Articles Of Iron Or Steel

Imports in Africa

In 2022, purchases abroad of articles of iron or steel was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a pronounced downturn. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, steel and iron articles imports rose modestly to $X in 2022. Over the period under review, imports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Egypt (X tons), South Africa (X tons) and Morocco (X tons) represented roughly X% of total imports in 2022. Tanzania (X tons) held the next position in the ranking, followed by Ghana (X tons), Tunisia (X tons) and Nigeria (X tons). All these countries together took near X% share of total imports. The following importers - Angola (X tons), Algeria (X tons), Guinea (X tons), Ethiopia (X tons), Cote d'Ivoire (X tons) and Namibia (X tons) - each recorded a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constitutes the largest market for imported articles of iron or steel in Africa, comprising X% of total imports. The second position in the ranking was taken by South Africa ($X), with a X% share of total imports. It was followed by Morocco, with a X% share.

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

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, showed a noticeable slump. The growth pace was the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, 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 Angola ($X per ton), while Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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