ECOWAS: Expanded Metal Market 2024

Expanded Metal Market Size in ECOWAS

For the fourth consecutive year, the ECOWAS expanded metal market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Expanded Metal Production in ECOWAS

In value terms, expanded metal production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Expanded Metal Exports

Exports in ECOWAS

In 2022, expanded metal exports in ECOWAS skyrocketed to X tons, with an increase of X% against the previous year. Overall, exports showed a measured increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, expanded metal exports expanded remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X tons) represented the key exporter of iron or steel expanded metal, comprising X% of total exports. It was distantly followed by Senegal (X tons), committing a X% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Togo (X tons) - together made up X% of total exports.

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

In value terms, Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Senegal, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 ECOWAS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 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 a decline in the export price figures.

Expanded Metal Imports

Imports in ECOWAS

In 2022, imports of iron or steel expanded metal in ECOWAS surged to X tons, picking up by X% compared with 2021. In general, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, expanded metal imports surged to $X in 2022. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Burkina Faso (X tons) and Senegal (X tons) represented roughly X% of total imports in 2022. Cote d'Ivoire (X tons) ranks next in terms of the total imports with a X% share, followed by Niger (X%), Togo (X%) and Cabo Verde (X%). Nigeria (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 main importing countries, was attained by Niger (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the 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 Cote d'Ivoire ($X per ton), while Burkina Faso ($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 a decline in the import price figures.

Source: IndexBox Platform

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