Western Africa: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Western Africa

The West African market for welded and cold-formed sections of steel reached $X in 2022, with an increase of X% against the previous year. The total consumption indicated noticeable 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, consumption decreased by X% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Welded And Cold-Formed Sections Of Steel in Western Africa

In value terms, welded and cold-formed steel sections production reached $X in 2022 estimated in export price. The total production indicated a tangible expansion 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 most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Welded And Cold-Formed Sections Of Steel

Exports in Western Africa

In 2022, overseas shipments of welded and cold-formed sections of steel increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a precipitous decline. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, welded and cold-formed steel sections exports surged to $X in 2022. Overall, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Ghana (X tons), constituting a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest welded and cold-formed steel sections supplying countries in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports.

Nigeria, with a CAGR of X%, recorded 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by X% against the previous year. In general, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Imports of Welded And Cold-Formed Sections Of Steel

Imports in Western Africa

In 2022, approx. X tons of welded and cold-formed sections of steel were imported in Western Africa; jumping by X% compared with 2021. Overall, imports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, welded and cold-formed steel sections imports skyrocketed to $X in 2022. In general, imports recorded a mild increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%), Senegal (X%) and Saint Helena, Ascension and Tristan da Cunha (X%). Niger (X tons) and Togo (X tons) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Senegal (X%), Cote d'Ivoire (X%) and Niger (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Saint Helena, Ascension and Tristan da Cunha (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.), Niger (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saint Helena, Ascension and Tristan da Cunha (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, the largest welded and cold-formed steel sections importing markets in Western Africa were Nigeria ($X), Saint Helena, Ascension and Tristan da Cunha ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Ghana, Senegal, Togo and Niger 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

In 2022, the import price in Western Africa amounted to $X per ton, which is down by X% against the previous year. In general, the import price saw a pronounced setback. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Saint Helena, Ascension and Tristan da Cunha ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saint Helena, Ascension and Tristan da Cunha (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :