ECOWAS: Barbed Wire Market 2024

Barbed Wire Market Size in ECOWAS

For the fourth consecutive year, the ECOWAS barbed wire market recorded growth in sales value, which increased by 24% to $X in 2021. In general, consumption showed a buoyant expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in years to come.

Barbed Wire Production in ECOWAS

In value terms, barbed wire production fell to $X in 2021 estimated in export price. Overall, production saw a perceptible slump. The growth pace was the most rapid in 2014 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Barbed Wire Exports

Exports in ECOWAS

In 2021, barbed wire exports in ECOWAS soared to X tons, growing by 19% on 2020 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 45%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, barbed wire exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 41%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the major exporter of barbed wire and entanglements in ECOWAS, with the volume of exports amounting to X tons, which was near 64% of total exports in 2021. It was distantly followed by Ghana (X tons), Togo (X tons) and Benin (X tons), together creating a 32% share of total exports. Nigeria (X tons) held a little share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, Benin (+48.2%) and Ghana (+11.1%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +48.2% from 2012-2021. By contrast, Togo (-11.5%) and Nigeria (-21.8%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+17 p.p.), Ghana (+9.8 p.p.) and Benin (+6.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-13.1 p.p.) and Togo (-17.4 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest barbed wire supplier in ECOWAS, comprising 59% of total exports. The second position in the ranking was held by Benin ($X), with a 13% share of total exports. It was followed by Ghana, with a 12% share.

In Cote d'Ivoire, barbed wire exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Benin (+65.1% per year) and Ghana (+4.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 12% against the previous year. In general, the export price, however, saw a drastic downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Benin ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+11.4%), while the other leaders experienced mixed trends in the export price figures.

Barbed Wire Imports

Imports in ECOWAS

In 2021, the amount of barbed wire and entanglements imported in ECOWAS expanded significantly to X tons, surging by 12% on the previous year. Overall, imports enjoyed a tangible increase. The pace of growth appeared the most rapid in 2018 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, barbed wire imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 102% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire (X tons), Guinea (X tons) and Ghana (X tons) represented roughly 62% of total imports in 2021. Liberia (X tons) took an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (8.3%) and Senegal (5.8%). Cabo Verde (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +38.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guinea ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 81% of total imports.

Guinea, with a CAGR of +42.1%, saw the highest growth rate of 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

In 2021, the import price in ECOWAS amounted to $X per ton, rising by 42% against the previous year. Overall, the import price saw a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guinea ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform