Western Africa: Market for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel 2024

Market Size for Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel in Western Africa

The West African market for seamless casing, tubing and drill oil or gas pipes of stainless steel rose markedly to $X in 2022, increasing by X% against the previous year. In general, consumption, however, continues to indicate a noticeable increase. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Production of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel in Western Africa

In value terms, production of seamless casing, tubing and drill oil or gas pipes of stainless steel rose sharply to $X in 2022 estimated in export price. In general, production showed a tangible expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production of growth remained at a lower figure.

Exports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel

Exports in Western Africa

In 2022, overseas shipments of seamless casing, tubing and drill oil or gas pipes of stainless steel increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, showed a noticeable setback. Over the period under review, the exports of hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, exports of seamless casing, tubing and drill oil or gas pipes of stainless steel surged to $X in 2022. Overall, exports, however, continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of about X tons, which recorded X% of total exports. Mauritania (X tons) ranks second in terms of the total exports with a X% share, followed by Burkina Faso (X%) and Senegal (X%). Ghana (X tons) and Gambia (X tons) held a minor share of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of seamless casing, tubing and drill oil or gas pipes of stainless steel. At the same time, Mauritania (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Gambia experienced a relatively flat trend pattern. By contrast, Ghana (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Mauritania (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest seamless casing, tubing and drill oil or gas pipe of stainless steel supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire was relatively modest. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked at $X per ton in 2021, and then plummeted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Imports of Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel

Imports in Western Africa

In 2022, imports of seamless casing, tubing and drill oil or gas pipes of stainless steel in Western Africa fell rapidly to X tons, which is down by X% compared with the previous year. In general, imports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then declined significantly in the following year.

In value terms, imports of seamless casing, tubing and drill oil or gas pipes of stainless steel surged to $X in 2022. Overall, imports, however, saw a measured increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Nigeria represented the main importer of seamless casing, tubing and drill oil or gas pipes of stainless steel in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Senegal (X tons), Ghana (X tons), Benin (X tons) and Cote d'Ivoire (X tons), together mixing up a X% share of total imports. Burkina Faso (X tons) held a relatively small share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of seamless casing, tubing and drill oil or gas pipes of stainless steel. At the same time, Benin (X%), Senegal (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Senegal (X p.p.), Benin (X p.p.), Ghana (X p.p.), Burkina Faso (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest seamless casing, tubing and drill oil or gas pipe of stainless steel importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Ghana ($X), with a combined X% share of total imports.

Senegal, 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 an increase of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue 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 Senegal ($X per ton), while Benin ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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