Cote d'Ivoire: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in Cote d'Ivoire

The Cote d'Ivoire's concrete reinforcing bar market reduced to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Concrete reinforcing bar consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Concrete Reinforcing Bar Production in Cote d'Ivoire

In value terms, concrete reinforcing bar production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Concrete reinforcing bar production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from Cote d'Ivoire

In 2022, shipments abroad of concrete reinforcing bars decreased by -83% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports recorded a dramatic decrease. The pace of growth was the most pronounced in 2014 with an increase of 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, concrete reinforcing bar exports fell dramatically to $X in 2022. In general, exports recorded a precipitous decrease. The pace of growth was the most pronounced in 2017 with an increase of 33%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mali (X tons) was the main destination for concrete reinforcing bar exports from Cote d'Ivoire, accounting for a 59% share of total exports. Moreover, concrete reinforcing bar exports to Mali exceeded the volume sent to the second major destination, Niger (X tons), threefold. Togo (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Mali totaled -25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-31.3% per year) and Togo (-34.2% per year).

In value terms, Mali ($X) remains the key foreign market for concrete reinforcing bars exports from Cote d'Ivoire, comprising 58% of total exports. The second position in the ranking was taken by Niger ($X), with a 20% share of total exports. It was followed by Togo, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Mali stood at -26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (-31.4% per year) and Togo (-34.9% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price, however, showed a mild descent. The pace of growth was the most pronounced in 2018 an increase of 15%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while the average price for exports to Niger ($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 Benin (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into Cote d'Ivoire

For the third consecutive year, Cote d'Ivoire recorded decline in purchases abroad of concrete reinforcing bars, which decreased by -57.6% to X tons in 2022. Overall, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 228%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, concrete reinforcing bar imports contracted rapidly to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2017 with an increase of 204% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest concrete reinforcing bar supplier to Cote d'Ivoire, accounting for a 62% share of total imports. Moreover, concrete reinforcing bar imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+139.4% per year) and China (+84.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of concrete reinforcing bars to Cote d'Ivoire, comprising 55% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+93.2% per year) and Spain (+99.0% per year).

Import Prices by Country

In 2022, the average concrete reinforcing bar import price amounted to $X per ton, picking up by 37% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +73.3% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform