ECOWAS: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in ECOWAS

In 2022, the ECOWAS stainless steel seamless pipe market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Stainless Steel Seamless Pipe For Oil And Gas in ECOWAS

In value terms, stainless steel seamless pipe production reached $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports in ECOWAS

Stainless steel seamless pipe exports declined markedly to X tons in 2022, waning by X% against the previous year's figure. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, stainless steel seamless pipe exports shrank dramatically to $X in 2022. Over the period under review, exports saw a sharp decline. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the largest exporter of stainless steel seamless pipe for oil and gas in ECOWAS, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Nigeria (X tons), making up a X% share of total exports.

Ghana was also the fastest-growing in terms of the stainless steel seamless pipe for oil and gas exports, with a CAGR of X% from 2012 to 2022. Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest stainless steel seamless pipe supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

In Ghana, stainless steel seamless pipe exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a significant decrease. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports in ECOWAS

In 2022, approx. X tons of stainless steel seamless pipe for oil and gas were imported in ECOWAS; shrinking by X% compared with 2021 figures. In general, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, stainless steel seamless pipe imports reduced sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of stainless steel seamless pipe for oil and gas, namely Togo, Nigeria, Cote d'Ivoire, Niger and Ghana, represented more than two-thirds of total import. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Nigeria, Senegal, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, approximately mirroring the previous year. In general, the import price posted a prominent expansion. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform