ECOWAS: Metal Stud-Link Chain Market 2024

Metal Stud-Link Chain Market Size in ECOWAS

The ECOWAS metal stud-link chain market stood at $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a buoyant increase. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Metal Stud-Link Chain Production in ECOWAS

In value terms, metal stud-link chain production shrank remarkably to $X in 2023 estimated in export price. In general, production, however, saw a dramatic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Metal Stud-Link Chain Exports

Exports in ECOWAS

In 2023, overseas shipments of iron/steel stud-link chain decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2022, and then declined significantly in the following year.

In value terms, metal stud-link chain exports shrank markedly to $X in 2023. In general, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped dramatically in the following year.

Exports by Country

Burkina Faso represented the major exporting country with an export of around X kg, which finished at X% of total exports. It was distantly followed by Cote d'Ivoire (X kg), mixing up a X% share of total exports.

Exports from Burkina Faso decreased at an average annual rate of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Burkina Faso (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest metal stud-link chain supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports.

In Cote d'Ivoire, metal stud-link chain exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price, however, saw significant growth. The pace of growth appeared the most rapid in 2019 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Metal Stud-Link Chain Imports

Imports in ECOWAS

For the fifth year in a row, ECOWAS recorded growth in overseas purchases of iron/steel stud-link chain, which increased by X% to X tons in 2023. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, metal stud-link chain imports surged to $X in 2023. In general, imports saw buoyant growth. 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 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Liberia (X tons) represented the main importer of iron/steel stud-link chain, constituting X% of total imports. Nigeria (X tons) took the second position in the ranking, followed by Guinea (X tons) and Cote d'Ivoire (X tons). All these countries together took near X% share of total imports. Ghana (X tons), Senegal (X tons) and Sierra Leone (X tons) held a minor share of total imports.

Imports into Liberia increased at an average annual rate of X% from 2012 to 2023. At the same time, Guinea (X%), Sierra Leone (X%), Cote d'Ivoire (X%), Senegal (X%), Nigeria (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Liberia, Guinea and Cote d'Ivoire increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X), Nigeria ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Guinea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 ECOWAS amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, recorded a mild curtailment. The growth pace was the most rapid in 2015 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 2016 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform