Western Africa: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in Western Africa

The West African cored arc-welding wire market skyrocketed to $X in 2023, increasing by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Cored Arc-Welding Wire Production in Western Africa

In value terms, cored arc-welding wire production reached $X in 2023 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in Western Africa

Cored arc-welding wire exports surged to X tons in 2023, rising by X% compared with the previous year's figure. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cored arc-welding wire exports skyrocketed to $X in 2023. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Benin dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Burkina Faso (X tons), creating a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

Benin was also the fastest-growing in terms of the cored arc-welding wire exports, with a CAGR of X% from 2012 to 2023. At the same time, Burkina Faso (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Benin and Burkina Faso increased by X and X percentage points, respectively.

In value terms, Benin ($X) emerged as the largest cored arc-welding wire supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Benin amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. In general, the export price recorded prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports in Western Africa

In 2023, after two years of growth, there was significant decline in supplies from abroad of cored arc-welding wire, when their volume decreased by X% to X tons. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2022 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, cored arc-welding wire imports shrank significantly to $X in 2023. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria (X tons) and Benin (X tons) dominates imports structure, together comprising X% of total imports. It was distantly followed by Guinea (X tons), constituting a X% share of total imports. Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Mauritania (X tons), Burkina Faso (X tons) and Liberia (X tons) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire importing markets in Western Africa were Nigeria ($X), Benin ($X) and Mauritania ($X), together comprising X% of total imports.

In terms of the main importing countries, Benin, with a CAGR of X%, saw 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 2023, the import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Import price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cored arc-welding wire import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, 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.

Source: IndexBox Platform