Western Africa: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Western Africa

The West African market for copper bars, wire and plates expanded modestly to $X in 2022, with an increase of X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Wire And Plates in Western Africa

In value terms, copper bars, wire and plates production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Copper Bars, Wire And Plates

Exports in Western Africa

In 2022, copper bars, wire and plates exports in Western Africa surged to X tons, increasing by X% against the previous year. Total exports indicated a moderate 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, exports increased by X% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper bars, wire and plates exports surged to $X in 2022. In general, exports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Senegal prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. Nigeria (X tons) ranks second in terms of the total exports with a X% share, followed by Guinea (X%). Ghana (X tons), Togo (X tons) and Benin (X tons) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Togo (X%), Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Guinea (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest copper bars, wire and plates supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Copper Bars, Wire And Plates

Imports in Western Africa

In 2022, approx. X tons of copper bars, wire and plates were imported in Western Africa; growing by X% compared with 2021 figures. Total imports indicated notable growth 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. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, copper bars, wire and plates imports reached $X in 2022. Total imports indicated a slight 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, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons), Ghana (X tons), Senegal (X tons) and Cote d'Ivoire (X tons) was the main importer of copper bars, wire and plates in Western Africa, comprising X% of total import. The following importers - Togo (X tons) and Burkina Faso (X tons) - each finished at a X% share of total imports.

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

In value terms, Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Nigeria, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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

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

Source: IndexBox Platform

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