ECOWAS: Hollow Drill Bar Market 2025

Hollow Drill Bar Market Size in ECOWAS

The ECOWAS hollow drill bar market skyrocketed to $X in 2021, picking up by 35% against the previous year. In general, consumption, however, faced a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hollow Drill Bar Production in ECOWAS

In value terms, hollow drill bar production fell modestly to $X in 2021 estimated in export price. In general, production recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 35% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then shrank modestly in the following year.

Hollow Drill Bar Exports

Exports in ECOWAS

After two years of decline, shipments abroad of hollow drill bars and rods increased by 14% to X tons in 2021. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 36%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, hollow drill bar exports reduced to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 103% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X tons), Cote d'Ivoire (X tons), Senegal (X tons) and Burkina Faso (X tons) represented roughly 96% of total exports in 2021. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Ghana (with a CAGR of +5.0%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Mali ($X) were the countries with the highest levels of exports in 2021, with a combined 73% share of total exports.

Mali, with a CAGR of +14.7%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, which is down by -17.1% against the previous year. Overall, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 an increase of 103% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a 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 Mali ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+25.7%), while the other leaders experienced more modest paces of growth.

Hollow Drill Bar Imports

Imports in ECOWAS

In 2021, approx. X tons of hollow drill bars and rods were imported in ECOWAS; picking up by 3.2% compared with 2020 figures. Over the period under review, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by 86%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hollow drill bar imports soared to $X in 2021. In general, imports, however, faced a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 35% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria (X tons) and Burkina Faso (X tons) represented roughly 63% of total imports in 2021. Mali (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (12%). Gambia (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hollow drill bar importing markets in ECOWAS were Burkina Faso ($X), Mali ($X) and Ghana ($X), together comprising 84% of total imports. Nigeria and Gambia lagged somewhat behind, together accounting for a further 5.1%.

Among the main importing countries, Gambia, with a CAGR of +8.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, growing by 29% against the previous year. In general, the import price, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 41% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+10.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform