Western Africa: Winding Wire Market 2024

Winding Wire Market Size in Western Africa

In 2022, the West African winding wire market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Winding Wire Production in Western Africa

In value terms, winding wire production contracted to $X in 2022 estimated in export price. Overall, production saw a noticeable reduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Winding Wire Exports

Exports in Western Africa

Winding wire exports plummeted to X tons in 2022, waning by X% compared with 2021 figures. Overall, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, winding wire exports skyrocketed to $X in 2022. Over the period under review, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Senegal (X tons) was the main exporter of winding wire for electrical purposes, achieving X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Togo (X%) and Nigeria (X%). Cote d'Ivoire (X kg), Benin (X kg) and Mauritania (X kg) held a little 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 Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X), Togo ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Senegal ($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.

Winding Wire Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of winding wire for electrical purposes, which increased by X% to X tons in 2022. Total imports indicated a remarkable 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, winding wire imports contracted to $X in 2022. Overall, imports continue to indicate measured growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of winding wire for electrical purposes, namely Nigeria, Ghana, Guinea and Senegal, represented more than two-thirds of total import. Benin (X tons) held the next position in the ranking, followed by Liberia (X tons). All these countries together held approx. X% share of total imports. Mauritania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest winding wire importing markets in Western Africa were Ghana ($X), Guinea ($X) and Nigeria ($X), with a combined X% share of total imports. Liberia, Benin, Mauritania and Senegal lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Benin, 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, declining by X% against the previous year. Over the period under review, the import price showed a mild decline. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($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 a decline in the import price figures.

Source: IndexBox Platform