ECOWAS: Base Metal Closure Market 2024

Base Metal Closure Market Size in ECOWAS

The ECOWAS base metal closure market rose to $X in 2022, picking up by X% against the previous year. Overall, consumption posted a buoyant expansion. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Base Metal Closure Production in ECOWAS

In value terms, base metal closure production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Base Metal Closure Exports

Exports in ECOWAS

In 2022, approx. X tons of base metal closures, stoppers, caps and lids were exported in ECOWAS; rising by X% against 2021. Overall, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure exports soared to $X in 2022. Over the period under review, exports, however, saw a pronounced slump. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the key exporter of base metal closures, stoppers, caps and lids, mixing up X% of total exports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%). Ghana (X tons) followed a long way behind the leaders.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest base metal closure supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Nigeria, base metal closure exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, showed a abrupt decrease. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Base Metal Closure Imports

Imports in ECOWAS

In 2022, base metal closure imports in ECOWAS amounted to X tons, increasing by X% against the year before. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, base metal closure imports expanded markedly to $X in 2022. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented the key importers of base metal closures, stoppers, caps and lids in 2022, finishing at approx. X% and X% of total imports, respectively. It was distantly followed by Cote d'Ivoire (X tons), comprising an X% share of total imports. Senegal (X tons) followed a long way behind the leaders.

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

In value terms, the largest base metal closure importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together comprising X% of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to 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

The import price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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