ECOWAS: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in ECOWAS

For the fourth consecutive year, the ECOWAS mill rolling roll market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption continues to indicate a drastic downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Mill Rolling Roll Production in ECOWAS

In value terms, mill rolling roll production shrank to $X in 2022 estimated in export price. In general, production showed a abrupt curtailment. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Mill Rolling Roll Exports

Exports in ECOWAS

In 2022, exports of rolls for rolling mills in ECOWAS declined markedly to X units, waning by X% against the previous year's figure. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, mill rolling roll exports totaled $X in 2022. Overall, exports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of rolls for rolling mills, namely Sierra Leone, represented more than two-thirds of total export.

Sierra Leone was also the fastest-growing in terms of the rolls for rolling mills exports, with a CAGR of X% from 2012 to 2022. While the share of Sierra Leone (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) also remains the largest mill rolling roll supplier in ECOWAS.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone was relatively modest.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, surging by X% against the previous year. Overall, the export price posted buoyant growth. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Sierra Leone.

From 2012 to 2022, the rate of growth in terms of prices for Sierra Leone amounted to X% per year.

Mill Rolling Roll Imports

Imports in ECOWAS

In 2022, approx. X units of rolls for rolling mills were imported in ECOWAS; picking up by X% on the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mill rolling roll imports surged to $X in 2022. Overall, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the largest importer of rolls for rolling mills in ECOWAS, with the volume of imports recording X units, which was near X% of total imports in 2022. Ghana (X units) held the second position in the ranking, distantly followed by Cote d'Ivoire (X units), Guinea (X units) and Benin (X units). All these countries together took near X% share of total imports. Mali (X units) and Gambia (X units) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of rolls for rolling mills. At the same time, Gambia (X%), Guinea (X%), Benin (X%), Mali (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Gambia 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 Benin (X p.p.), Guinea (X p.p.), Cote d'Ivoire (X p.p.), Gambia (X p.p.), Mali (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported rolls for rolling mills in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria was relatively modest. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, jumping by X% against the previous year. Overall, the import price, however, showed a deep downturn. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform