ECOWAS: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in ECOWAS

In 2022, the ECOWAS market for line pipe of steel other than stainless steel for oil or gas pipelines increased by X% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption enjoyed temperate growth. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in ECOWAS

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports in ECOWAS

Exports of line pipe of steel other than stainless steel for oil or gas pipelines declined notably to X tons in 2022, with a decrease of X% compared with the previous year. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines fell dramatically to $X in 2022. Over the period under review, exports saw a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Nigeria represented the key exporter of line pipe of steel other than stainless steel for oil or gas pipelines in ECOWAS, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons) and Ghana (X tons), together creating a X% share of total exports.

Nigeria was also the fastest-growing in terms of the line pipe of steel other than stainless steel for oil or gas pipelines exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Cote d'Ivoire and Ghana increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Ghana lagged somewhat behind, comprising a further X%.

Ghana, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, showed a noticeable setback. The growth pace was the most rapid in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 mixed trends in the export price figures.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in supplies from abroad of line pipe of steel other than stainless steel for oil or gas pipelines, which increased by X% to X tons in 2022. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines surged to $X in 2022. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

Nigeria represented the major importing country with an import of about X tons, which accounted for X% of total imports. Niger (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%). Ghana (X tons), Benin (X tons) and Cote d'Ivoire (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to line pipe of steel other than stainless steel for oil or gas pipelines imports into Nigeria stood at X%. At the same time, Benin (X%), Niger (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Senegal (X p.p.) and Benin (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Nigeria (X p.p.) displayed negative dynamics.

In value terms, the largest line pipe of steel other than stainless steel for oil or gas pipelines importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Niger ($X), with a combined X% share of total imports.

Among the main importing countries, Senegal, 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 recorded a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Benin ($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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