Western Africa: Steel Railway Material Market 2024

Steel Railway Material Market Size in Western Africa

In 2022, the West African steel railway material market was finally on the rise to reach $X after three years of decline. In general, consumption, however, recorded a slight reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Steel Railway Material Production in Western Africa

In value terms, steel railway material production rose sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Steel Railway Material Exports

Exports in Western Africa

Steel railway material exports soared to X tons in 2022, jumping by X% on the previous year's figure. Over the period under review, exports saw a resilient increase. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel railway material exports skyrocketed to $X in 2022. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2020 when exports increased by X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana represented the key exporter of railway or tramway track construction material of iron or steel in Western Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%).

From 2012 to 2022, average annual rates of growth with regard to steel railway material exports from Ghana stood at X%. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire and Senegal increased by X and X percentage points, respectively.

In value terms, Senegal ($X) emerged as the largest steel railway material supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price saw a temperate increase. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($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 a decline in the export price figures.

Steel Railway Material Imports

Imports in Western Africa

In 2022, after three years of decline, there was significant growth in supplies from abroad of railway or tramway track construction material of iron or steel, when their volume increased by X% to X tons. Over the period under review, imports, however, saw a pronounced shrinkage. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, steel railway material imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria represented the major importer of railway or tramway track construction material of iron or steel in Western Africa, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Guinea (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%). Cote d'Ivoire (X tons), Ghana (X tons) and Mauritania (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%), Senegal (X%) and Mauritania (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guinea, Nigeria and Cote d'Ivoire increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported railway or tramway track construction material of iron or steel in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Import price indicated measured growth 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, steel railway material import price increased by X% against 2017 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 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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