Western Africa: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Western Africa

The West African concrete reinforcing bar market amounted to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a measured increase 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 decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Concrete Reinforcing Bar Production in Western Africa

In value terms, concrete reinforcing bar production expanded modestly to $X in 2022 estimated in export price. The total production indicated a moderate 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Concrete Reinforcing Bar Exports

Exports in Western Africa

In 2022, overseas shipments of concrete reinforcing bars decreased by X% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, concrete reinforcing bar exports shrank notably to $X in 2022. In general, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the largest exporter of concrete reinforcing bars, constituting X% of total exports. Senegal (X tons) held the second position in the ranking, distantly followed by Benin (X tons). All these countries together took near X% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Burkina Faso (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X), Senegal ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, dropping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

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

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

Concrete Reinforcing Bar Imports

Imports in Western Africa

In 2022, the amount of concrete reinforcing bars imported in Western Africa reduced rapidly to X tons, waning by X% compared with the previous year's figure. Total imports indicated a notable 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. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped dramatically in the following year.

In value terms, concrete reinforcing bar imports reduced rapidly to $X in 2022. Total imports indicated a measured 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

Senegal was the largest importing country with an import of about X tons, which finished at X% of total imports. Guinea (X tons) ranks second in terms of the total imports with an X% share, followed by Niger (X%), Benin (X%), Nigeria (X%), Sierra Leone (X%) and Mauritania (X%). The following importers - Cabo Verde (X tons), Gambia (X tons), Ghana (X tons), Togo (X tons) and Burkina Faso (X tons) - together made up X% of total imports.

Senegal was also the fastest-growing in terms of the concrete reinforcing bars imports, with a CAGR of X% from 2012 to 2022. At the same time, Niger (X%), Benin (X%), Burkina Faso (X%), Togo (X%), Gambia (X%), Guinea (X%) and Nigeria (X%) displayed positive paces of growth. Cabo Verde and Sierra Leone experienced a relatively flat trend pattern. By contrast, Mauritania (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Niger, Guinea and Benin increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported concrete reinforcing bars in Western Africa, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Niger, with a X% share.

In Senegal, concrete reinforcing bar imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Niger (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, approximately equating the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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