ECOWAS: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in ECOWAS

The ECOWAS market for line pipe of steel other than stainless steel for oil or gas pipelines reached $X in 2022, almost unchanged from the previous year. In general, consumption recorded a perceptible setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in ECOWAS

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines dropped to $X in 2022 estimated in export price. In general, production recorded a deep contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 42% against the previous year. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports in ECOWAS

In 2022, approx. X tons of line pipe of steel other than stainless steel for oil or gas pipelines were exported in ECOWAS; declining by -19.9% on 2021. Overall, exports, however, posted moderate growth. The growth pace was the most rapid in 2018 with an increase of 961% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines reduced markedly to $X in 2022. Over the period under review, exports, however, posted a moderate increase. The pace of growth appeared the most rapid in 2018 when exports increased by 480% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) and Nigeria (X tons) dominates pipelines structure, together committing 85% of total exports. It was distantly followed by Ghana (X tons) and Senegal (X tons), together generating an 11% share of total exports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of +25.2%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, together comprising 94% of total exports. Ghana and Togo lagged somewhat behind, together comprising a further 5%.

Among the main exporting countries, Ghana, with a CAGR of +10.5%, recorded the highest rates of growth with regard to 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, remaining stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 349% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports in ECOWAS

In 2022, supplies from abroad of line pipe of steel other than stainless steel for oil or gas pipelines increased by 26% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 165% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines soared to $X in 2022. Over the period under review, imports posted a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 171% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Nigeria prevails in pipelines structure, finishing at X tons, which was near 81% of total imports in 2022. Niger (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took near 12% share of total imports. Ghana (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to line pipe of steel other than stainless steel for oil or gas pipelines imports into Nigeria stood at +11.3%. At the same time, Benin (+73.5%) and Cote d'Ivoire (+12.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +73.5% from 2012-2022. Niger experienced a relatively flat trend pattern. By contrast, Ghana (-1.4%) illustrated a downward trend over the same period. Niger (+7.6 p.p.) and Benin (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported line pipe of steel other than stainless steel for oil or gas pipelines in ECOWAS, comprising 74% of total imports. The second position in the ranking was taken by Niger ($X), with a 16% share of total imports. It was followed by Cote d'Ivoire, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +10.7%. In the other countries, the average annual rates were as follows: Niger (0.0% per year) and Cote d'Ivoire (+1.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of 23% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 72% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform