Africa: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Africa

In 2023, after two years of growth, there was significant decline in the African ferro-alloys market, when its value decreased by X% to $X. The total consumption indicated a noticeable expansion from 2012 to 2023: its value 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Ferro-Alloys Production in Africa

In value terms, ferro-alloys production expanded to $X in 2023 estimated in export price. The total production indicated a moderate 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Ferro-Alloys Exports

Exports in Africa

In 2023, approx. X tons of ferro-alloys were exported in Africa; with an increase of X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, ferro-alloys exports rose rapidly 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 years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

South Africa prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Zimbabwe (X tons), comprising an X% share of total exports. Zambia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ferro-alloys exports from South Africa stood at X%. At the same time, Zambia (X%) and Zimbabwe (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. While the share of Zimbabwe (X p.p.) and Zambia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Africa (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest ferro-alloys supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Zimbabwe ($X), with an X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in South Africa amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Zimbabwe (X% per year) and Zambia (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then contracted in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the export price figures.

Ferro-Alloys Imports

Imports in Africa

In 2023, after two years of growth, there was significant decline in supplies from abroad of ferro-alloys, when their volume decreased by X% to X tons. Overall, imports, however, showed strong growth. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked at X tons in 2022, and then contracted dramatically in the following year.

In value terms, ferro-alloys imports fell rapidly to $X in 2023. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

In 2023, Egypt (X tons) was the largest importer of ferro-alloys, constituting X% of total imports. It was distantly followed by Algeria (X tons), South Africa (X tons) and Nigeria (X tons), together comprising a X% share of total imports. The following importers - Morocco (X tons), Libya (X tons), Ghana (X tons), Zimbabwe (X tons), Botswana (X tons) and Angola (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to ferro-alloys imports into Egypt stood at X%. At the same time, Ghana (X%), Algeria (X%), Angola (X%), Libya (X%), Zimbabwe (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. Nigeria, South Africa and Botswana experienced a relatively flat trend pattern. While the share of Egypt (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Botswana (X p.p.), Morocco (X p.p.), Nigeria (X p.p.) and South Africa (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ferro-alloys importing markets in Africa were Egypt ($X), South Africa ($X) and Algeria ($X), together comprising X% of total imports.

Algeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform