Western Africa: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2024

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Western Africa

The West African market for iron, steel or aluminium reservoirs, tanks, vats and similar containers was finally on the rise to reach $X in 2020, after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2020; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level in 2020 and is expected to retain growth in years to come.

Production of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Western Africa

In value terms, iron, steel or aluminium reservoir production soared to $X in 2020 estimated in export price. Overall, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production hit record highs in 2020 and is expected to retain growth in the immediate term.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports in Western Africa

In 2020, shipments abroad of iron, steel or aluminium reservoirs, tanks, vats and similar containers was finally on the rise to reach X units after two years of decline. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports reached the peak of X units. From 2018 to 2020, the growth of the exports remained at a somewhat lower figure.

In value terms, iron, steel or aluminium reservoir exports surged to $X in 2020. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2020, the growth of the exports failed to regain momentum.

Exports by Country

Senegal (X units) and Saint Helena, Ascension and Tristan da Cunha (X units) represented roughly X% of total exports in 2020. It was distantly followed by Ghana (X units), Benin (X units), Nigeria (X units) and Liberia (X units), together committing a X% share of total exports. Burkina Faso (X units) held a minor share of total exports.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saint Helena, Ascension and Tristan da Cunha (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2020, together accounting for X% of total exports. Benin, Liberia, Saint Helena, Ascension and Tristan da Cunha and Burkina Faso lagged somewhat behind, together comprising a further X%.

Saint Helena, Ascension and Tristan da Cunha, 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 more modest paces of growth.

Export Prices by Country

In 2020, the export price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2020, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Saint Helena, Ascension and Tristan da Cunha ($X per unit) was amongst the lowest.

From 2012 to 2020, 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.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports in Western Africa

Iron, steel or aluminium reservoir imports soared to X units in 2020, with an increase of X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron, steel or aluminium reservoir imports amounted to $X in 2020. The total import value increased at an average annual rate of X% from 2012 to 2020; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2020, imports failed to regain momentum.

Imports by Country

Nigeria was the largest importer of iron, steel or aluminium reservoirs, tanks, vats and similar containers in Western Africa, with the volume of imports recording X units, which was approx. X% of total imports in 2020. Cote d'Ivoire (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%) and Senegal (X%). The following importers - Burkina Faso (X units), Benin (X units) and Mali (X units) - each amounted to an X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2020. At the same time, Cote d'Ivoire (X%), Senegal (X%), Benin (X%) and Mali (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2020. Burkina Faso experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Ghana saw its share reduced by X% and X% from 2012 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported iron, steel or aluminium reservoirs, tanks, vats and similar containers in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2020, the import price in Western Africa amounted to $X per unit, shrinking by X% against the previous year. In general, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2020, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2020, major importing countries recorded the following prices: in Senegal ($X per unit) and Ghana ($X per unit), while Benin ($X per unit) and Mali ($X per unit) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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