Africa: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Africa

The African market for hot-rolled non-alloy steel wire rods stood at $X in 2022, standing approx. at the previous year. The total consumption indicated a noticeable expansion 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Africa

In value terms, hot-rolled non-alloy steel wire rod production rose to $X in 2022 estimated in export price. The total production indicated a strong expansion 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in Africa

In 2022, approx. X tons of hot-rolled non-alloy steel wire rods were exported in Africa; with a decrease of X% compared with 2021 figures. Over the period under review, exports, however, saw pronounced growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, hot-rolled non-alloy steel wire rod exports declined to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then contracted slightly in the following year.

Exports by Country

Algeria (X tons) and Egypt (X tons) represented roughly X% of total exports in 2022. South Africa (X tons) held the next position in the ranking, followed by Tunisia (X tons). All these countries together took approx. X% share of total exports. The following exporters - Senegal (X tons) and Nigeria (X tons) - together made up X% of total exports.

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

In value terms, Egypt ($X), Algeria ($X) and South Africa ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Algeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, increasing by X% against the previous year. Export price indicated a modest expansion 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, hot-rolled non-alloy steel wire rod export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Egypt ($X per ton) and Nigeria ($X per ton), while Senegal ($X per ton) and South Africa ($X per ton) were 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.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in Africa

In 2022, supplies from abroad of hot-rolled non-alloy steel wire rods decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled non-alloy steel wire rod imports contracted to $X in 2022. Overall, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) represented roughly X% of total imports in 2022. Burkina Faso (X tons) ranks next in terms of the total imports with a X% share, followed by Benin (X%), Kenya (X%) and Tanzania (X%). The following importers - Morocco (X tons), Togo (X tons), Egypt (X tons), Mauritius (X tons), Libya (X tons) and Guinea (X tons) - together made up X% 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 Tanzania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod importing markets in Africa were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together comprising X% of total imports. Burkina Faso, Benin, Kenya, Tanzania, Morocco, Togo, Egypt, Mauritius, Libya and Guinea lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Tanzania, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, picking up by X% against the previous year. Import price indicated slight 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, hot-rolled non-alloy steel wire rod import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Egypt ($X per ton), while Senegal ($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.

Source: IndexBox Platform

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