ECOWAS: Coated Arc-Welding Electrode Market 2025

Coated Arc-Welding Electrode Market Size in ECOWAS

After four years of growth, the ECOWAS coated arc-welding electrode market decreased by X% to $X in 2022. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then declined in the following year.

Coated Arc-Welding Electrode Production in ECOWAS

In value terms, coated arc-welding electrode production rose slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports in ECOWAS

In 2022, shipments abroad of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, coated arc-welding electrode exports fell to $X in 2022. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the key exporter of coated base metal electrodes for electric arc-welding in ECOWAS, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Ghana (X tons), mixing up a X% share of total exports. The following exporters - Benin (X tons), Burkina Faso (X tons) and Senegal (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest coated arc-welding electrode supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

In Cote d'Ivoire, coated arc-welding electrode exports shrank by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by X% against the previous year. Overall, the export price, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2020 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports in ECOWAS

Coated arc-welding electrode imports was estimated at X tons in 2022, surging by X% against the year before. Over the period under review, imports posted a noticeable increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, coated arc-welding electrode imports shrank to $X in 2022. In general, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Ghana (X tons) was the main importer of coated base metal electrodes for electric arc-welding, making up X% of total imports. Nigeria (X tons) took the second position in the ranking, followed by Guinea (X tons), Mali (X tons), Niger (X tons), Cote d'Ivoire (X tons) and Burkina Faso (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to coated arc-welding electrode imports into Ghana stood at X%. At the same time, Niger (X%), Mali (X%), Guinea (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Mali, Guinea, Niger, Burkina Faso and Cote d'Ivoire increased by X, X, X, X, X and X percentage points, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported coated base metal electrodes for electric arc-welding in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports. It was followed by Nigeria, with an X% share.

In Ghana, coated arc-welding electrode imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform