ECOWAS: Steel Sheet Piling Market 2025

Steel Sheet Piling Market Size in ECOWAS

The ECOWAS steel sheet piling market stood at $X in 2022, growing by 3% against the previous year. Over the period under review, consumption continues to indicate a perceptible slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Steel Sheet Piling Production in ECOWAS

In value terms, steel sheet piling production soared to $X in 2022 estimated in export price. In general, production showed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 204% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Steel Sheet Piling Exports

Exports in ECOWAS

Steel sheet piling exports skyrocketed to X tons in 2022, increasing by 24% against the year before. In general, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 73%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, steel sheet piling exports expanded remarkably to $X in 2022. Over the period under review, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 61% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the largest exporting country with an export of about X tons, which reached 65% of total exports. Ghana (X tons) ranks second in terms of the total exports with a 28% share, followed by Benin (5.3%).

Nigeria was also the fastest-growing in terms of the sheet piling of steel exports, with a CAGR of +21.8% from 2012 to 2022. At the same time, Benin (+16.8%) displayed positive paces of growth. By contrast, Ghana (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Benin increased by +58 and +5.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Benin ($X) constituted the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of -4.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by -14.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 39%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Benin ($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 (-1.6%), while the other leaders experienced a decline in the export price figures.

Steel Sheet Piling Imports

Imports in ECOWAS

In 2022, purchases abroad of sheet piling of steel decreased by -1.9% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 76%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, steel sheet piling imports rose to $X in 2022. Over the period under review, imports showed a pronounced descent. The pace of growth appeared the most rapid in 2013 with an increase of 52% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the major importer of sheet piling of steel in ECOWAS, with the volume of imports amounting to X tons, which was approx. 52% of total imports in 2022. It was distantly followed by Sierra Leone (X tons), Cote d'Ivoire (X tons), Benin (X tons) and Ghana (X tons), together making up a 39% share of total imports. The following importers - Senegal (X tons) and Niger (X tons) - together made up 7.6% of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of sheet piling of steel. At the same time, Niger (+79.5%), Benin (+54.0%), Senegal (+28.8%), Ghana (+24.0%) and Cote d'Ivoire (+10.2%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +79.5% from 2012-2022. By contrast, Sierra Leone (-4.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin, Cote d'Ivoire, Ghana, Senegal, Niger and Nigeria increased by +8.6, +7, +4.9, +4.1, +3.2 and +1.6 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported sheet piling of steel in ECOWAS, comprising 45% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 21% share of total imports. It was followed by Sierra Leone, with an 11% share.

In Nigeria, steel sheet piling imports shrank by an average annual rate of -3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+19.2% per year) and Sierra Leone (-12.0% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of 5.7% against the previous year. In general, the import price, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2020 an increase of 17%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 ($X per ton), while Niger ($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 (+8.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform