ECOWAS: Metal Rivet Market 2025

Metal Rivet Market Size in ECOWAS

The ECOWAS metal rivet market rose to $X in 2022, increasing by 2.6% against the previous year. In general, consumption, however, showed a slight shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Metal Rivet Production in ECOWAS

In value terms, metal rivet production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable descent. The growth pace was the most rapid in 2014 when the production volume increased by 14%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Metal Rivet Exports

Exports in ECOWAS

Metal rivet exports rose markedly to X tons in 2022, with an increase of 13% on 2021. Overall, exports, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2020 with an increase of 169%. 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, metal rivet exports expanded slightly to $X in 2022. In general, exports recorded noticeable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 121%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Niger was the key exporter of iron or steel rivets in ECOWAS, with the volume of exports resulting at X tons, which was approx. 64% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X kg) and Ghana (X kg), together mixing up a 32% share of total exports. The following exporters - Nigeria (X kg) and Togo (X kg) - each finished at a 3.6% share of total exports.

Exports from Niger increased at an average annual rate of +27.6% from 2012 to 2022. At the same time, Togo (+35.4%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +35.4% from 2012-2022. By contrast, Cote d'Ivoire (-7.6%), Ghana (-12.4%) and Nigeria (-21.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger and Togo increased by +59 and +1.6 percentage points, respectively.

In value terms, Niger ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 96% of total exports. Nigeria and Togo lagged somewhat behind, together comprising a further 3.6%.

In terms of the main exporting countries, Togo, with a CAGR of +40.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -6.9% against the previous year. Overall, the export price, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 187%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+12.1%), while the other leaders experienced more modest paces of growth.

Metal Rivet Imports

Imports in ECOWAS

In 2022, imports of iron or steel rivets in ECOWAS shrank sharply to X tons, waning by -18.9% on the year before. Over the period under review, imports continue to indicate a deep setback. The growth pace was the most rapid in 2019 with an increase of 41% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal rivet imports declined notably to $X in 2022. In general, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria (X tons) and Ghana (X tons) dominates imports structure, together comprising 80% of total imports. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Guinea (X tons). All these countries together took near 12% share of total imports. The following importers - Senegal (X tons) and Burkina Faso (X tons) - each reached a 3.7% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Burkina Faso (with a CAGR of +45.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Ghana ($X) constitutes the largest market for imported iron or steel rivets in ECOWAS, comprising 46% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 20% share of total imports. It was followed by Cote d'Ivoire, with a 15% share.

In Ghana, metal rivet imports shrank by an average annual rate of -4.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (-10.5% per year) and Cote d'Ivoire (-0.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, dropping by -5.1% against the previous year. Overall, the import price, however, continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2013 when the import price increased by 82%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform