Africa: Market for Hot-Rolled Round Bars Of Stainless Steel 2024

Market Size for Hot-Rolled Round Bars Of Stainless Steel in Africa

The African hot-rolled round stainless steel market declined modestly to $X in 2023, standing approx. at the previous year. Over the period under review, consumption, however, continues to indicate prominent growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Hot-Rolled Round Bars Of Stainless Steel in Africa

In value terms, hot-rolled round stainless steel production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports in Africa

In 2023, exports of hot-rolled round bars of stainless steel in Africa soared to X tons, rising by X% on 2022. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled round stainless steel exports surged to $X in 2023. In general, exports, however, saw a abrupt decrease. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

South Africa was the largest exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Egypt (X tons), achieving a X% share of total exports. The following exporters - Botswana (X tons), Tanzania (X tons), Kenya (X tons) and Nigeria (X tons) - together made up X% of total exports.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Nigeria (X%), Egypt (X%), Botswana (X%) and Tanzania (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Kenya (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Egypt, Botswana, Tanzania and Nigeria increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest hot-rolled round stainless steel supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Egypt ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

In South Africa, hot-rolled round stainless steel exports contracted by 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: Egypt (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Tanzania ($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 more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports in Africa

In 2023, purchases abroad of hot-rolled round bars of stainless steel increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports enjoyed modest growth. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled round stainless steel imports stood at $X in 2023. In general, imports, however, recorded a noticeable slump. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, South Africa (X tons), followed by Algeria (X tons), Namibia (X tons), Egypt (X tons), Morocco (X tons), Ghana (X tons) and Tunisia (X tons) were the key importers of hot-rolled round bars of stainless steel, together mixing up X% of total imports. Angola (X tons), Cameroon (X tons), Democratic Republic of the Congo (X tons), Mozambique (X tons), Zimbabwe (X tons) and Tanzania (X tons) held a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Mozambique (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled round stainless steel importing markets in Africa were South Africa ($X), Morocco ($X) and Egypt ($X), together accounting for X% of total imports. Algeria, Tunisia, Ghana, Angola, Namibia, Cameroon, Democratic Republic of the Congo, Mozambique, Zimbabwe and Tanzania lagged somewhat behind, together accounting for a further X%.

Namibia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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

In 2023, the import price in Africa amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Morocco ($X per ton), while Namibia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform