Angola: Metal Wool Market 2024

Metal Wool Market Size in Angola

The Angolan metal wool market surged to $X in 2022, picking up by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, faced a abrupt decrease. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Metal Wool Exports

Exports from Angola

After two years of growth, shipments abroad of iron or steel wool decreased by -31.8% to X tons in 2022. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 609%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank sharply in the following year.

In value terms, metal wool exports contracted notably to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 431% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for metal wool exports from Angola, with a 64% share of total exports. Moreover, metal wool exports to Brazil exceeded the volume sent to the second major destination, Portugal (X kg), twofold. The third position in this ranking was taken by Namibia (X kg), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil amounted to +94.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+89.8% per year) and Namibia (+10.6% per year).

In value terms, Brazil ($X), Portugal ($X) and Namibia ($X) were the largest markets for metal wool exported from Angola worldwide, together accounting for 95% of total exports.

Brazil, with a CAGR of +101.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average metal wool export price amounted to $X per ton, with a decrease of -2.2% against the previous year. Over the period under review, the export price showed a deep setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Congo ($X per ton), while the average price for exports to Namibia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.6%), while the prices for the other major destinations experienced a decline.

Metal Wool Imports

Imports into Angola

In 2022, the amount of iron or steel wool imported into Angola soared to X tons, rising by 60% against the previous year. Over the period under review, imports, however, continue to indicate a deep slump. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports expanded notably to $X in 2022. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 54% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal wool to Angola, accounting for a 88% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), more than tenfold. The third position in this ranking was taken by Portugal (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-3.8% per year) and Portugal (-20.8% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Angola, comprising 79% of total imports. The second position in the ranking was held by South Africa ($X), with an 8.3% share of total imports. It was followed by Brazil, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-7.6% per year) and Brazil (-19.9% per year).

Import Prices by Country

In 2022, the average metal wool import price amounted to $X per ton, shrinking by -32.9% against the previous year. Overall, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 an increase of 80%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Namibia (+11.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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