ECOWAS: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in ECOWAS

In 2022, the ECOWAS threaded metal articles market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Threaded Metal Articles Production in ECOWAS

In value terms, threaded metal articles production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Threaded Metal Articles Exports

Exports in ECOWAS

In 2022, exports of threaded articles of iron or steel in ECOWAS skyrocketed to X tons, picking up by X% against 2021 figures. Overall, exports, however, continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, threaded metal articles exports expanded rapidly to $X in 2022. In general, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the main exporter of threaded articles of iron or steel, mixing up X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%), Cote d'Ivoire (X%), Niger (X%) and Liberia (X%). Benin (X kg) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to threaded metal articles exports from Nigeria stood at X%. At the same time, Niger (X%), Benin (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%), Sierra Leone (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Niger (X p.p.), Liberia (X p.p.), Benin (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Sierra Leone ($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. Nigeria, Niger, Liberia and Benin lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Niger, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped notably in the following year.

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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Threaded Metal Articles Imports

Imports in ECOWAS

Threaded metal articles imports contracted to X tons in 2022, waning by X% on the previous year. Overall, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, threaded metal articles imports shrank remarkably to $X in 2022. In general, imports, however, saw a tangible expansion. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) was the major importer of threaded articles of iron or steel, achieving X% of total imports. Ghana (X tons) took the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together took approx. X% share of total imports. Guinea (X tons), Niger (X tons) and Mali (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest threaded metal articles importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Guinea, Mali and Niger lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Mali, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price recorded a perceptible curtailment. The pace of growth was the most pronounced in 2015 an increase of X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, 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 Mali ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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