ECOWAS - Hot-Rolled Non-Alloy Steel Wire Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024
Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in ECOWAS
The ECOWAS market for hot-rolled non-alloy steel wire rods reached $X in 2022, increasing by X% against the previous year. In general, consumption enjoyed a strong increase. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.
Production of Hot-Rolled Non-Alloy Steel Wire Rods in ECOWAS
In value terms, hot-rolled non-alloy steel wire rod production rose slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
Exports of Hot-Rolled Non-Alloy Steel Wire Rods
Exports in ECOWAS
After two years of growth, overseas shipments of hot-rolled non-alloy steel wire rods decreased by X% to X tons in 2022. In general, exports showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
In value terms, hot-rolled non-alloy steel wire rod exports rose rapidly to $X in 2022. Over the period under review, exports showed a pronounced reduction. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
Senegal represented the key exporter of hot-rolled non-alloy steel wire rods in ECOWAS, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Nigeria (X tons) took the second position in the ranking, distantly followed by Benin (X tons), Ghana (X tons) and Burkina Faso (X tons). All these countries together took near X% share of total exports. Togo (X tons) took a little share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Senegal ($X), Nigeria ($X) and Benin ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.
Among the main exporting countries, Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled non-alloy steel wire rod export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Benin ($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 Nigeria (X%), while the other leaders experienced more modest paces of growth.
Imports of Hot-Rolled Non-Alloy Steel Wire Rods
Imports in ECOWAS
In 2022, approx. X tons of hot-rolled non-alloy steel wire rods were imported in ECOWAS; reducing by X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.
In value terms, hot-rolled non-alloy steel wire rod imports expanded remarkably to $X in 2022. Overall, imports, however, showed temperate growth. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.
Imports by Country
The countries with the highest levels of hot-rolled non-alloy steel wire rod imports in 2022 were Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together amounting to X% of total import. Burkina Faso (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Benin (X%) and Togo (X%). Guinea (X tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest hot-rolled non-alloy steel wire rod importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), with a combined X% share of total imports.
In terms of the main importing countries, Cote d'Ivoire, with a CAGR of X%, recorded 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 $X per ton in 2022, picking up by X% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled non-alloy steel wire rod import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked in 2022 and is likely to continue growth in years to come.
Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Benin ($X per ton) and Cote d'Ivoire ($X per ton), while Senegal ($X per ton) and Ghana ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for hot-rolled non-alloy steel wire rod in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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