ECOWAS: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in ECOWAS

The ECOWAS base metal flexible tubing market reached $X in 2021, increasing by 3.5% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in ECOWAS

In value terms, base metal flexible tubing production amounted to $X in 2021 estimated in export price. In general, production, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2013 when the production volume increased by 57% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in ECOWAS

In 2021, the amount of base metal flexible tubing, iron or steel exported in ECOWAS shrank significantly to X tons, which is down by -30.5% compared with 2020. Over the period under review, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 272%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, base metal flexible tubing exports shrank rapidly to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 216%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal was the major exporter of base metal flexible tubing, iron or steel in ECOWAS, with the volume of exports resulting at X tons, which was approx. 70% of total exports in 2021. Togo (X kg) ranks second in terms of the total exports with a 19% share, followed by Ghana (8.3%). Nigeria (X kg) held a relatively small share of total exports.

Exports from Senegal decreased at an average annual rate of -4.5% from 2012 to 2021. At the same time, Ghana (+26.9%) and Togo (+6.9%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +26.9% from 2012-2021. By contrast, Nigeria (-32.0%) illustrated a downward trend over the same period. Togo (+13 p.p.), Senegal (+11 p.p.) and Ghana (+7.7 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -28.9% from 2012 to 2021, respectively.

In value terms, Senegal ($X), Togo ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

Among the main exporting countries, Togo, with a CAGR of +17.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, reducing by -9.8% against the previous year. Overall, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 75%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+9.7%), while the other leaders experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in ECOWAS

Base metal flexible tubing imports declined notably to X tons in 2021, with a decrease of -20.9% compared with the year before. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 4,327% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, base metal flexible tubing imports fell slightly to $X in 2021. In general, imports, however, recorded a modest increase. The pace of growth was the most pronounced in 2017 with an increase of 4,176% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of base metal flexible tubing, iron or steel, namely Nigeria, Cote d'Ivoire, Ghana and Senegal, represented more than two-thirds of total import. It was distantly followed by Liberia (X tons), constituting a 5.5% share of total imports. The following importers - Benin (X tons) and Guinea (X tons) - together made up 6.5% of total imports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported base metal flexible tubing, iron or steel in ECOWAS, comprising 43% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria was relatively modest. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+2.6% per year) and Ghana (+6.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, jumping by 26% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Benin ($X per ton), while Senegal ($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 (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform