Western Africa: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in Western Africa

The West African aluminium alloy wire market declined modestly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the market value increased by X%. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Aluminium Alloy Wire Production in Western Africa

In value terms, aluminium alloy wire production fell slightly to $X in 2022 estimated in export price. Over the period under review, production saw a slight slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Aluminium Alloy Wire Exports

Exports in Western Africa

In 2022, the amount of aluminium alloy wire exported in Western Africa shrank dramatically to X tons, reducing by X% compared with 2021 figures. Over the period under review, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, aluminium alloy wire exports reduced markedly to $X in 2022. In general, exports continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso was the key exporter of aluminium alloy wire in Western Africa, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X tons), comprising a X% share of total exports. Nigeria (X tons) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the aluminium alloy wire exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest aluminium alloy wire supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports.

In Ghana, aluminium alloy wire exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, saw a drastic downturn. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Aluminium Alloy Wire Imports

Imports in Western Africa

In 2022, approx. X tons of aluminium alloy wire were imported in Western Africa; rising by X% against the previous year's figure. Total imports indicated a strong increase 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 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aluminium alloy wire imports soared to $X in 2022. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Cote d'Ivoire (X tons), Senegal (X tons) and Nigeria (X tons) was the major importer of aluminium alloy wire in Western Africa, committing X% of total import. It was distantly followed by Ghana (X tons) and Burkina Faso (X tons), together generating an X% share of total imports. Mali (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

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

In value terms, Nigeria ($X) constitutes the largest market for imported aluminium alloy wire in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($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. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price 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, aluminium alloy wire import price increased by X% against 2016 indices. 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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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