ECOWAS: Metal Tubular Rivet Market 2024

Metal Tubular Rivet Market Size in ECOWAS

In 2021, the ECOWAS metal tubular rivet market decreased by -0.4% to $X for the first time since 2014, thus ending a six-year rising trend. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.7% against 2014 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped modestly in the following year.

Metal Tubular Rivet Production in ECOWAS

In value terms, metal tubular rivet production totaled $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.9% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 22%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Metal Tubular Rivet Exports

Exports in ECOWAS

In 2021, exports of base metal tubular or bifurcated rivets in ECOWAS reduced markedly to X kg, with a decrease of -79% compared with 2020 figures. Over the period under review, exports, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,078%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal tubular rivet exports fell sharply to $X in 2021. In general, exports recorded a slight descent. The pace of growth was the most pronounced in 2016 when exports increased by 616%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Niger represented the key exporting country with an export of around X kg, which amounted to 56% of total exports. Cote d'Ivoire (X kg) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (14%) and Nigeria (8%).

From 2012 to 2021, average annual rates of growth with regard to metal tubular rivet exports from Niger stood at +2.4%. At the same time, Nigeria (+10.4%) and Cote d'Ivoire (+5.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +10.4% from 2012-2021. By contrast, Sierra Leone (-12.6%) illustrated a downward trend over the same period. While the share of Niger (+56 p.p.), Nigeria (+3.4 p.p.) and Cote d'Ivoire (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sierra Leone (-49.4 p.p.) displayed negative dynamics.

In value terms, the largest metal tubular rivet supplying countries in ECOWAS were Niger ($X), Nigeria ($X) and Sierra Leone ($X), together comprising 91% of total exports.

Nigeria, with a CAGR of +18.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, surging by 203% against the previous year. Overall, the export price, however, continues to indicate a abrupt setback. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire ($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 (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Metal Tubular Rivet Imports

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in purchases abroad of base metal tubular or bifurcated rivets, when their volume decreased by -33.3% to X tons. Overall, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 68%. As a result, imports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, metal tubular rivet imports dropped modestly to $X in 2021. In general, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 58%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Cote d'Ivoire (X tons), distantly followed by Ghana (X tons), Senegal (X tons), Guinea (X tons) and Nigeria (X tons) represented the main importers of base metal tubular or bifurcated rivets, together generating 95% of total imports. The following importers - Togo (X tons) and Benin (X tons) - each accounted for a 4.3% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guinea (with a CAGR of +64.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal tubular rivet importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), with a combined 80% share of total imports. Guinea, Nigeria, Togo and Benin lagged somewhat behind, together comprising a further 18%.

Guinea, with a CAGR of +58.0%, saw the highest rates of growth with regard to 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, growing by 47% against the previous year. Overall, the import price saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform