ECOWAS: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in ECOWAS

The ECOWAS market for tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $X in 2022, growing by X% against the previous year. The total consumption indicated buoyant growth 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 2017 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in ECOWAS

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) shrank modestly to $X in 2022 estimated in export price. The total production indicated buoyant growth 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in ECOWAS

In 2022, after two years of growth, there was decline in shipments abroad of tubes, pipes and hollow profiles (of iron or steel), when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) dropped to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 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

Ghana represented the main exporting country with an export of about X tons, which recorded X% of total exports. Senegal (X tons) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%), Benin (X%) and Nigeria (X%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel pipe and tube supplying countries in ECOWAS were Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for X% of total exports. Benin, Nigeria and Togo lagged somewhat behind, together accounting for a further X%.

Benin, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in ECOWAS

In 2022, approx. X tons of tubes, pipes and hollow profiles (of iron or steel) were imported in ECOWAS; with an increase of X% compared with the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2022. Overall, imports enjoyed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria (X tons), Niger (X tons), Ghana (X tons) and Senegal (X tons) represented roughly X% of total imports in 2022. Burkina Faso (X tons) held the next position in the ranking, followed by Cote d'Ivoire (X tons) and Benin (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Niger (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel pipe and tube importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Ghana ($X), together comprising X% 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

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($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

Frequently Asked Questions (FAQ) :