Cameroon: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Cameroon

The Cameroonian concrete reinforcing bar market stood at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Concrete Reinforcing Bar Production in Cameroon

In value terms, concrete reinforcing bar production declined slightly to $X in 2022 estimated in export price. Overall, production, however, showed slight growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 24%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from Cameroon

In 2022, shipments abroad of concrete reinforcing bars increased by 0.5% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 29%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, concrete reinforcing bar exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by 27% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Chad (X tons) was the main destination for concrete reinforcing bar exports from Cameroon, accounting for a 81% share of total exports. Moreover, concrete reinforcing bar exports to Chad exceeded the volume sent to the second major destination, Nigeria (X tons), ninefold. Equatorial Guinea (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume to Chad totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-28.6% per year) and Equatorial Guinea (-6.8% per year).

In value terms, Chad ($X) remains the key foreign market for concrete reinforcing bars exports from Cameroon, comprising 61% of total exports. The second position in the ranking was held by Equatorial Guinea ($X), with a 22% share of total exports. It was followed by Central African Republic, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chad totaled -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Equatorial Guinea (+0.6% per year) and Central African Republic (-7.8% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, with an increase of 8.3% against the previous year. Overall, the export price, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Equatorial Guinea ($X per ton), while the average price for exports to Chad ($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 Equatorial Guinea (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into Cameroon

In 2022, imports of concrete reinforcing bars into Cameroon surged to X tons, rising by 55% on 2021. In general, imports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2015 when imports increased by 64% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, concrete reinforcing bar imports surged to $X in 2022. Over the period under review, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2015 with an increase of 74% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of concrete reinforcing bar to Cameroon, with a 62% share of total imports. Moreover, concrete reinforcing bar imports from Turkey exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold. Antigua and Barbuda (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-5.1% per year) and Antigua and Barbuda (-8.2% per year).

In value terms, Turkey ($X) constituted the largest supplier of concrete reinforcing bars to Cameroon, comprising 54% of total imports. The second position in the ranking was taken by Antigua and Barbuda ($X), with an 11% share of total imports. It was followed by Ukraine, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at -9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Antigua and Barbuda (-4.6% per year) and Ukraine (-9.0% per year).

Import Prices by Country

The average concrete reinforcing bar import price stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 61% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Antigua and Barbuda ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform