Western Africa: Copper Wire Market 2024

Copper Wire Market Size in Western Africa

The West African copper wire market rose to $X in 2022, with an increase of X% against the previous year. The total consumption indicated a pronounced 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. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Copper Wire Production in Western Africa

In value terms, copper wire production rose remarkably to $X in 2022 estimated in export price. The total production indicated a tangible 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Copper Wire Exports

Exports in Western Africa

In 2022, copper wire exports in Western Africa surged to X tons, increasing by X% on the year before. Total exports indicated a modest 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, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper wire exports skyrocketed to $X in 2022. Overall, exports enjoyed a temperate increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. The following exporters - Ghana (X tons), Nigeria (X tons) and Benin (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to copper wire exports from Senegal stood at X%. At the same time, Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin 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. While the share of Senegal (X p.p.), Ghana (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

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

In Senegal, copper wire exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Benin (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. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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.

Copper Wire Imports

Imports in Western Africa

In 2022, purchases abroad of copper wire decreased by X% to X tons, falling for the second year in a row after four years of growth. Total imports indicated modest 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, copper wire imports dropped slightly to $X in 2022. Total imports indicated moderate 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, 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. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The countries with the highest levels of copper wire imports in 2022 were Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons), together accounting for 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) appeared to be 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%.

Among the main importing countries, Togo, 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

The import price in Western Africa stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a modest 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, copper wire import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 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 Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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