ECOWAS: Base Metal Hinge Market 2025

Base Metal Hinge Exports

Exports in ECOWAS

In 2021, the amount of base metal hinges exported in ECOWAS declined sharply to X tons, shrinking by -49% against 2020 figures. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 236% against the previous year. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, base metal hinge exports contracted significantly to $X in 2021. Overall, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 201%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

In 2021, Nigeria (X tons) was the largest exporter of base metal hinges, comprising 47% of total exports. Sierra Leone (X kg) held the second position in the ranking, distantly followed by Cote d'Ivoire (X kg), Senegal (X kg) and Cabo Verde (X kg). All these countries together held near 40% share of total exports. Mali (X kg), Togo (X kg) and Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to base metal hinge exports from Nigeria stood at +18.1%. At the same time, Sierra Leone (+22.0%), Senegal (+18.6%), Cabo Verde (+15.4%), Cote d'Ivoire (+1.9%) and Mali (+1.7%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +22.0% from 2012-2021. Togo experienced a relatively flat trend pattern. By contrast, Ghana (-16.1%) illustrated a downward trend over the same period. Nigeria (+26 p.p.), Sierra Leone (+12 p.p.), Senegal (+3.5 p.p.) and Cabo Verde (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Togo, Mali, Cote d'Ivoire and Ghana saw its share reduced by -2.4%, -3.2%, -7% and -18.4% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) remains the largest base metal hinge supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was held by Sierra Leone ($X), with an 11% share of total exports. It was followed by Senegal, with a 9.4% share.

In Nigeria, base metal hinge exports expanded at an average annual rate of +46.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+18.0% per year) and Senegal (+45.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, picking up by 37% against the previous year. In general, the export price saw prominent growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 77%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+24.3%), while the other leaders experienced more modest paces of growth.

Base Metal Hinge Imports

Imports in ECOWAS

For the fifth consecutive year, ECOWAS recorded growth in supplies from abroad of base metal hinges, which increased by 25% to X tons in 2021. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2015 when imports increased by 35%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, base metal hinge imports rose notably to $X in 2021. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 67% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The purchases of the three major importers of base metal hinges, namely Ghana, Burkina Faso and Senegal, represented more than half of total import. Cote d'Ivoire (X tons) held the next position in the ranking, followed by Togo (X tons), Nigeria (X tons) and Guinea (X tons). All these countries together took approx. 26% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +47.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal hinge importing markets in ECOWAS were Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X), with a combined 64% share of total imports. Togo, Nigeria, Guinea and Burkina Faso lagged somewhat behind, together comprising a further 26%.

Togo, with a CAGR of +54.4%, saw the highest growth rate of the value of imports, among 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, falling by -16% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 31% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform