ECOWAS: Nail And Bolt Market 2025

Nail And Bolt Market Size in ECOWAS

The ECOWAS nail and bolt market expanded modestly to $X in 2021, surging by 1.8% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Nail And Bolt Production in ECOWAS

In value terms, nail and bolt production fell to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.5% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Nail And Bolt Exports

Exports in ECOWAS

Nail and bolt exports reduced rapidly to X tons in 2021, falling by -26.7% on the previous year. Over the period under review, exports saw a perceptible shrinkage. The growth pace was the most rapid in 2018 with an increase of 52%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, nail and bolt exports shrank rapidly to $X in 2021. Overall, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 with an increase of 62% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin was the key exporting country with an export of around X tons, which accounted for 63% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 16% share, followed by Ghana (12%) and Togo (5.1%). Senegal (X tons) followed a long way behind the leaders.

Exports from Benin increased at an average annual rate of +13.9% from 2012 to 2021. At the same time, Ghana (+17.4%) and Senegal (+6.9%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +17.4% from 2012-2021. By contrast, Cote d'Ivoire (-15.1%) and Togo (-15.2%) illustrated a downward trend over the same period. While the share of Benin (+47 p.p.) and Ghana (+9.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Togo (-13.6 p.p.) and Cote d'Ivoire (-43.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Benin ($X) emerged as the largest nail and bolt supplier in ECOWAS, comprising 59% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 17% share of total exports. It was followed by Ghana, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Benin totaled +10.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-13.5% per year) and Ghana (-2.0% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 14%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Nail And Bolt Imports

Imports in ECOWAS

In 2021, supplies from abroad of nails, tacks, staples, screws and bolts decreased by -2.5% to X tons for the first time since 2017, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, nail and bolt imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.2% against 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by 39%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

Ghana (X tons) and Nigeria (X tons) were the largest importers of nails, tacks, staples, screws and bolts in 2021, recording near 27% and 19% of total imports, respectively. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Guinea (X tons), Benin (X tons), Burkina Faso (X tons), Liberia (X tons) and Senegal (X tons). All these countries together took near 40% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +22.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 58% of total imports.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of +19.6%, saw 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 2021, growing by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform