ECOWAS: Metal Castor Mounting Market 2025

Metal Castor Mounting Market Size in ECOWAS

The ECOWAS metal castor mounting market expanded notably to $X in 2022, with an increase of 14% against the previous year. Over the period under review, consumption showed a modest expansion. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Metal Castor Mounting Production in ECOWAS

In value terms, metal castor mounting production rose remarkably to $X in 2022 estimated in export price. Overall, production saw a mild expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 83%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Metal Castor Mounting Exports

Exports in ECOWAS

In 2022, the amount of castors with mountings of base metal exported in ECOWAS shrank slightly to X tons, reducing by -3% on the previous year. In general, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when exports increased by 468%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, metal castor mounting exports reduced to $X in 2022. Overall, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 373%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the key exporter of castors with mountings of base metal in ECOWAS, with the volume of exports recording X kg, which was near 51% of total exports in 2022. Ghana (X kg) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Togo (15%). The following exporters - Liberia (X kg) and Sierra Leone (X kg) - each amounted to a 7.8% share of total exports.

Nigeria was also the fastest-growing in terms of the castors with mountings of base metal exports, with a CAGR of +21.6% from 2012 to 2022. At the same time, Ghana (+7.6%) and Sierra Leone (+5.7%) displayed positive paces of growth. By contrast, Liberia (-8.7%) and Togo (-10.3%) illustrated a downward trend over the same period. Nigeria (+48 p.p.), Ghana (+21 p.p.), Liberia (+4 p.p.) and Sierra Leone (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Togo ($X) and Sierra Leone ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 82% share of total exports.

Nigeria, with a CAGR of +18.6%, saw the highest growth rate of the value of exports, among the main exporting countries 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 2022, falling by -3.3% against the previous year. Over the period under review, the export price showed a noticeable reduction. The pace of growth appeared the most rapid in 2017 when the export price increased by 66%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a 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 Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Metal Castor Mounting Imports

Imports in ECOWAS

In 2022, approx. X tons of castors with mountings of base metal were imported in ECOWAS; jumping by 29% compared with 2021. Over the period under review, imports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 66%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, metal castor mounting imports totaled $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 77% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Senegal (X tons), Ghana (X tons), Cote d'Ivoire (X tons) and Cabo Verde (X tons) represented the main importers of castors with mountings of base metal, together constituting 91% of total imports. Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cabo Verde (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported castors with mountings of base metal in ECOWAS, comprising 39% of total imports. The second position in the ranking was held by Senegal ($X), with a 17% share of total imports. It was followed by Cote d'Ivoire, with a 16% share.

In Ghana, metal castor mounting imports increased at an average annual rate of +19.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+31.6% per year) and Cote d'Ivoire (+14.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of -21.3% against the previous year. Over the period under review, the import price, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 56% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+5.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform