ECOWAS: Expanded Metal Market 2025

Expanded Metal Market Size in ECOWAS

In 2022, after three years of growth, there was significant decline in the ECOWAS expanded metal market, when its value decreased by -10.4% to $X. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +94.1% against 2016 indices. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

Expanded Metal Production in ECOWAS

In value terms, expanded metal production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 31% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Expanded Metal Exports

Exports in ECOWAS

In 2022, expanded metal exports in ECOWAS dropped notably to X tons, waning by -23.2% compared with the year before. Overall, exports recorded a mild decline. The growth pace was the most rapid in 2020 when exports increased by 1,898%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, expanded metal exports shrank to $X in 2022. Over the period under review, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 635% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X tons) was the main exporter of iron or steel expanded metal, comprising 72% of total exports. It was distantly followed by Senegal (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons), together committing a 22% share of total exports. The following exporters - Togo (X tons) and Nigeria (X tons) - each reached a 6.1% share of total exports.

Exports from Ghana decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Senegal (+35.1%), Cote d'Ivoire (+32.8%), Nigeria (+24.5%) and Togo (+6.7%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +35.1% from 2012-2022. By contrast, Burkina Faso (-8.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Cote d'Ivoire, Nigeria and Togo increased by +11, +4.6, +2.5 and +1.9 percentage points, respectively.

In value terms, Ghana ($X) remains the largest expanded metal supplier in ECOWAS, comprising 52% of total exports. The second position in the ranking was held by Senegal ($X), with a 23% share of total exports. It was followed by Burkina Faso, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to -6.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+30.5% per year) and Burkina Faso (-3.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, the export price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 71% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+5.5%), while the other leaders experienced a decline in the export price figures.

Expanded Metal Imports

Imports in ECOWAS

In 2022, after three years of growth, there was significant decline in overseas purchases of iron or steel expanded metal, when their volume decreased by -29.6% to X tons. Over the period under review, imports, however, saw a strong expansion. The growth pace was the most rapid in 2017 with an increase of 81% against the previous year. The volume of import peaked at X tons in 2021, and then declined notably in the following year.

In value terms, expanded metal imports shrank significantly to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 67% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank markedly in the following year.

Imports by Country

In 2022, Senegal (X tons), distantly followed by Niger (X tons), Togo (X tons), Cote d'Ivoire (X tons), Burkina Faso (X tons) and Ghana (X tons) represented the largest importers of iron or steel expanded metal, together making up 85% of total imports. Nigeria (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +55.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest expanded metal importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising 60% of total imports. Niger, Togo, Nigeria and Burkina Faso lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, Niger, with a CAGR of +31.8%, 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 ton in 2022, which is down by -4.4% against the previous year. Overall, the import price recorded a slight downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by 28%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform