ECOWAS: Moulds For Metal Market 2024

Moulds For Metal Market Size in ECOWAS

In 2022, the ECOWAS moulds for metal market decreased by -20.5% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, enjoyed a prominent increase. The level of consumption peaked at $X in 2021, and then dropped dramatically in the following year.

Moulds For Metal Production in ECOWAS

In value terms, moulds for metal production reduced slightly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 67%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Moulds For Metal Exports

Exports in ECOWAS

In 2022, approx. X tons of moulds for metals were exported in ECOWAS; picking up by 58% on the year before. Overall, exports recorded slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,691%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, moulds for metal exports declined remarkably to $X in 2022. In general, exports, however, saw a mild downturn. The pace of growth was the most pronounced in 2013 with an increase of 1,062% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria was the largest exporting country with an export of around X tons, which recorded 62% of total exports. It was distantly followed by Ghana (X tons) and Benin (X tons), together generating a 32% share of total exports. Togo (X kg) and Cote d'Ivoire (X kg) held a minor share of total exports.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of moulds for metals. At the same time, Benin (+7.7%), Cote d'Ivoire (+3.6%) and Ghana (+1.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +7.7% from 2012-2022. By contrast, Togo (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin increased by +9.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest moulds for metal supplying countries in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined 94% share of total exports.

Among the main exporting countries, Ghana, with a CAGR of +5.7%, recorded the highest growth rate of the value of exports, 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, which is down by -74.5% against the previous year. Over the period under review, the export price saw a perceptible slump. The pace of growth appeared the most rapid in 2019 an increase of 1,711%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Moulds For Metal Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in overseas purchases of moulds for metals, when their volume decreased by -28.3% to X tons. Over the period under review, imports, however, saw significant growth. The growth pace was the most rapid in 2018 with an increase of 360% against the previous year. The volume of import peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, moulds for metal imports shrank notably to $X in 2022. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 198% against the previous year. The level of import peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of moulds for metals in ECOWAS, constituting 98% of total import.

Nigeria was also the fastest-growing in terms of the moulds for metals imports, with a CAGR of +30.7% from 2012 to 2022. Nigeria (+17 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported moulds for metals in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +19.5%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of -15% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 58%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -8.6% per year.

Source: IndexBox Platform

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