Report Update Apr 1, 2025

ECOWAS - Honing or Lapping Machines for Working Metal - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Metal Honing Machine Market 2025

Metal Honing Machine Market Size in ECOWAS

In 2021, after two years of growth, there was significant decline in the ECOWAS metal honing machine market, when its value decreased by -7.9% to $X. Overall, consumption saw perceptible growth. As a result, consumption reached the peak level of $X, and then fell in the following year.

Metal Honing Machine Production in ECOWAS

In value terms, metal honing machine production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, showed a noticeable downturn. The growth pace was the most rapid in 2019 when the production volume increased by 24%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Metal Honing Machine Exports

Exports in ECOWAS

In 2021, approx. X units of honing or lapping machines for working metal were exported in ECOWAS; flattening at the previous year's figure. Over the period under review, exports continue to indicate a pronounced downturn. The smallest decline of -33.3% was in 2013. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal honing machine exports skyrocketed to $X in 2021. In general, exports recorded a abrupt slump. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Liberia (X units) represented roughly 100% of total exports in 2021.

Liberia experienced a relatively flat trend pattern with regard to volume of exports of honing or lapping machines for working metal. Liberia (+99 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 Liberia, metal honing machine exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, remaining stable against the previous year. Overall, the export price faced a sharp contraction. The most prominent rate of growth was recorded in 2014 when the export price decreased by -25.8%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Liberia amounted to 0.0% per year.

Metal Honing Machine Imports

Imports in ECOWAS

In 2021, supplies from abroad of honing or lapping machines for working metal increased by 15% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 when imports increased by 279% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, metal honing machine imports contracted rapidly to $X in 2021. Overall, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 142% against the previous year. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

Nigeria dominates imports structure, recording X units, which was near 83% of total imports in 2021. The following importers - Burkina Faso (X units), Niger (X units), Benin (X units) and Mali (X units) - together made up 13% of total imports.

Nigeria was also the fastest-growing in terms of the honing or lapping machines for working metal imports, with a CAGR of +42.5% from 2012 to 2021. At the same time, Mali (+34.1%) and Niger (+8.5%) displayed positive paces of growth. Benin experienced a relatively flat trend pattern. By contrast, Burkina Faso (-32.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Niger, Benin and Mali increased by +80, +2.6, +2.4 and +2.2 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported honing or lapping machines for working metal in ECOWAS, comprising 47% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 15% share of total imports. It was followed by Mali, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +26.6%. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+0.7% per year) and Mali (+74.2% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, shrinking by -45.4% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2013 when the import price increased by 509%. The level of import peaked at $X per unit in 2019; however, from 2020 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 Mali ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+49.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the metal honing machine market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28412385 - Honing or lapping machines for working metal

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption, By Country, 2018–2024
5. Production, In Physical Terms, By Country, 2012–2024
6. Imports, In Physical Terms, By Country, 2012–2024
7. Imports, In Value Terms, By Country, 2012–2024
8. Import Prices, By Country Of Destination, 2012–2024
9. Exports, In Physical Terms, By Country, 2012–2024
10. Exports, In Value Terms, By Country, 2012–2024
11. Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Consumption, By Country, 2024
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2024
18. Production, In Value Terms, 2012–2024
19. Production, By Country, 2024
20. Production, In Physical Terms, By Country, 2012–2024
21. Imports, In Physical Terms, 2012–2024
22. Imports, In Value Terms, 2012–2024
23. Imports, In Physical Terms, By Country, 2024
24. Imports, In Physical Terms, By Country, 2012–2024
25. Imports, In Value Terms, By Country, 2012–2024
26. Import Prices, By Country, 2012–2024
27. Exports, In Physical Terms, 2012–2024
28. Exports, In Value Terms, 2012–2024
29. Exports, In Physical Terms, By Country, 2024
30. Exports, In Physical Terms, By Country, 2012–2024
31. Exports, In Value Terms, By Country, 2012–2024
32. Export Prices, 2012–2024