ECOWAS: Market for Base Metal Flexible Tubing, Iron Or Steel 2024

Market Size for Base Metal Flexible Tubing, Iron Or Steel in ECOWAS

The ECOWAS base metal flexible tubing market fell modestly to $X in 2022, reducing by X% against the previous year. Overall, consumption, however, posted a modest expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in ECOWAS

In value terms, base metal flexible tubing production contracted slightly to $X in 2022 estimated in export price. The total production indicated resilient growth 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 growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in ECOWAS

In 2022, shipments abroad of base metal flexible tubing, iron or steel was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a deep downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, base metal flexible tubing exports surged to $X in 2022. Overall, exports, however, recorded a noticeable decrease. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Senegal (X tons), together amounting to X% of total export.

Senegal was also the fastest-growing in terms of the base metal flexible tubing, iron or steel exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest base metal flexible tubing supplier in ECOWAS.

In Senegal, base metal flexible tubing exports decreased by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to X% per year.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in ECOWAS

In 2022, the amount of base metal flexible tubing, iron or steel imported in ECOWAS contracted to X tons, with a decrease of X% against the year before. Overall, imports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, base metal flexible tubing imports rose notably to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Senegal (X tons), Togo (X tons), Ghana (X tons), Liberia (X tons) and Cote d'Ivoire (X tons) were the major importers of base metal flexible tubing, iron or steel, together creating X% of total imports. Burkina Faso (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 leading importing countries, was attained by Liberia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported base metal flexible tubing, iron or steel in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price showed a pronounced increase. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($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 more modest paces of growth.

Source: IndexBox Platform

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