ECOWAS: Cold Metal-Rolling Mill Market 2024

Cold Metal-Rolling Mill Market Size in ECOWAS

The ECOWAS cold metal-rolling mill market expanded rapidly to $X in 2022, picking up by X% against the previous year. In general, consumption recorded a strong increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Cold Metal-Rolling Mill Production in ECOWAS

In value terms, cold metal-rolling mill production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Cold Metal-Rolling Mill Exports

Exports in ECOWAS

In 2022, shipments abroad of cold metal-rolling mills decreased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a abrupt contraction. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, cold metal-rolling mill exports dropped significantly to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Ghana (X units), together resulting at X% of total export.

Ghana was also the fastest-growing in terms of the cold metal-rolling mills exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In Ghana, cold metal-rolling mill exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.

Cold Metal-Rolling Mill Imports

Imports in ECOWAS

In 2022, purchases abroad of cold metal-rolling mills decreased by X% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports showed a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, cold metal-rolling mill imports contracted markedly to $X in 2022. In general, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) was the key importer of cold metal-rolling mills, mixing up X% of total imports. It was distantly followed by Ghana (X units), Gambia (X units), Senegal (X units) and Guinea (X units), together generating a X% share of total imports. Benin (X units), Cote d'Ivoire (X units), Mali (X units), Niger (X units), Burkina Faso (X units), Sierra Leone (X units), Togo (X units) and Cabo Verde (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cold metal-rolling mill imports into Nigeria stood at X%. At the same time, Niger (X%), Senegal (X%) and Ghana (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. Guinea and Cabo Verde experienced a relatively flat trend pattern. By contrast, Sierra Leone (X%), Benin (X%), Mali (X%), Togo (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Gambia (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Ghana (X p.p.), Senegal (X p.p.), Togo (X p.p.), Guinea (X p.p.), Niger (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Gambia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cold metal-rolling mills in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

In Nigeria, cold metal-rolling mill imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a mild expansion. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform