ECOWAS: Market for Iron or Steel Cans 2025

Market Size for Iron or Steel Cans in ECOWAS

After three years of growth, the ECOWAS iron or steel can market decreased by -2.2% to $X in 2021. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Iron or Steel Cans in ECOWAS

In value terms, iron or steel can production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 19%. As a result, production attained the peak level of $X, and then declined in the following year.

Exports of Iron or Steel Cans

Exports in ECOWAS

In 2021, iron or steel can exports in ECOWAS contracted notably to X units, with a decrease of -69.7% on 2020. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by 25%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron or steel can exports shrank dramatically to $X in 2021. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 16%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Benin (X units) and Cote d'Ivoire (X units) dominates exports structure, together generating 92% of total exports. It was distantly followed by Senegal (X units), committing a 6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +18.8%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest iron or steel can supplier in ECOWAS, comprising 70% of total exports. The second position in the ranking was taken by Benin ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire totaled -20.5%. In the other countries, the average annual rates were as follows: Benin (+17.8% per year) and Senegal (-17.8% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, growing by 25% against the previous year. In general, the export price, however, continues to indicate a pronounced shrinkage. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per unit), while Benin ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Cans

Imports in ECOWAS

In 2021, imports of iron or steel cans in ECOWAS soared to X units, growing by 53% compared with 2020 figures. Over the period under review, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 69%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, iron or steel can imports skyrocketed to $X in 2021. In general, imports posted a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 111% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Cote d'Ivoire (X units) and Ghana (X units) were the main importers of iron or steel cans in ECOWAS, together comprising 74% of total imports. Senegal (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (5.7%). Cabo Verde (X units) and Nigeria (X units) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +63.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel can importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), together comprising 86% of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +58.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, rising by 8.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform