Western Africa: Market for Wire Rod Used For Concrete Reinforcing 2022

Market Size for Wire Rod Used For Concrete Reinforcing in Western Africa

The West African concrete reinforcing wire rod market skyrocketed to $X in 2021, increasing by X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Wire Rod Used For Concrete Reinforcing in Western Africa

In value terms, concrete reinforcing wire rod production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

Production By Country in Western Africa

Nigeria (X tons) remains the largest concrete reinforcing wire rod producing country in Western Africa, comprising approx. X% of total volume. It was followed by Liberia (X tons), with a X% share of total production.

From 2018 to 2021, the average annual growth rate of volume in Nigeria amounted to -X%.

Exports of Wire Rod Used For Concrete Reinforcing

Exports in Western Africa

In 2021, approx. X tons of wire rod used for concrete reinforcing were exported in Western Africa; with an increase of X% compared with 2020 figures. In general, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, concrete reinforcing wire rod exports soared to $X in 2021. Overall, exports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X tons) represented the largest exporter of wire rod used for concrete reinforcing, mixing up X% of total exports. Benin (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%) and Nigeria (X%). The following exporters - Cote d'Ivoire (X tons) and Burkina Faso (X tons) - each finished at a X% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to concrete reinforcing wire rod exports from Senegal stood at +X%. At the same time, Nigeria (+X%) and Ghana (+X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +X% from 2012-2021. By contrast, Benin (-X%), Burkina Faso (-X%) and Cote d'Ivoire (-X%) illustrated a downward trend over the same period. While the share of Senegal (+X p.p.), Nigeria (+X p.p.) and Ghana (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Burkina Faso (-X p.p.), Cote d'Ivoire (-X p.p.) and Benin (-X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest concrete reinforcing wire rod supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports. It was followed by Nigeria, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal was relatively modest. In the other countries, the average annual rates were as follows: Benin (-X% per year) and Nigeria (+X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, jumping by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wire Rod Used For Concrete Reinforcing

Imports in Western Africa

In 2021, approx. X tons of wire rod used for concrete reinforcing were imported in Western Africa; picking up by X% against the previous year's figure. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, concrete reinforcing wire rod imports surged to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of wire rod used for concrete reinforcing, namely Senegal, Cote d'Ivoire, Ghana and Burkina Faso, represented more than two-thirds of total import. Togo (X tons) took the next position in the ranking, followed by Gambia (X tons), Mali (X tons) and Benin (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2021, the biggest increases were in Gambia (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete reinforcing wire rod importing markets in Western Africa were Senegal ($X), Burkina Faso ($X) and Ghana ($X), with a combined X% share of total imports. These countries were followed by Cote d'Ivoire, Togo, Benin, Mali and Gambia, which together accounted for a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a slight setback. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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