ECOWAS: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in ECOWAS

The ECOWAS stainless steel sink market amounted to $X in 2021, increasing by 2.7% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Stainless Steel Sink Production in ECOWAS

In value terms, stainless steel sink production expanded significantly to $X in 2021 estimated in export price. In general, production recorded a mild slump. The most prominent rate of growth was recorded in 2018 with an increase of 101%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Stainless Steel Sink Exports

Exports in ECOWAS

In 2021, approx. X units of stainless steel sinks and wash basins were exported in ECOWAS; reducing by -38.1% compared with the previous year's figure. Over the period under review, exports continue to indicate a sharp shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 22%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, stainless steel sink exports fell notably to $X in 2021. In general, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria prevails in exports structure, resulting at X units, which was near 88% of total exports in 2021. The following exporters - Cote d'Ivoire (X units), Togo (X units) and Ghana (X units) - together made up 11% of total exports.

Exports from Nigeria decreased at an average annual rate of -21.7% from 2012 to 2021. Cote d'Ivoire (-6.5%), Togo (-13.7%) and Ghana (-22.6%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+3.3 p.p.) and Togo (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest stainless steel sink supplier in ECOWAS, comprising 61% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 21% share of total exports. It was followed by Ghana, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to -30.0%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-8.6% per year) and Ghana (-15.7% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, shrinking by -21.6% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 82% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+8.9%), while the other leaders experienced a decline in the export price figures.

Stainless Steel Sink Imports

Imports in ECOWAS

In 2021, overseas purchases of stainless steel sinks and wash basins decreased by -7% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 38% against the previous year. The volume of import peaked at X units in 2020, and then dropped in the following year.

In value terms, stainless steel sink imports rose rapidly to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.6% against 2018 indices. The pace of growth was the most pronounced in 2020 when imports increased by 41% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Ghana (X units) and Nigeria (X units) represented roughly 56% of total imports in 2021. Senegal (X units) ranks next in terms of the total imports with an 11% share, followed by Cote d'Ivoire (8.7%), Guinea (7.4%) and Burkina Faso (4.6%). Togo (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Togo (with a CAGR of +32.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported stainless steel sinks and wash basins in ECOWAS, comprising 42% of total imports. The second position in the ranking was taken by Senegal ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana amounted to +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+35.5% per year) and Cote d'Ivoire (+33.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, surging by 13% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stainless steel sink import price increased by +45.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 42% against the previous year. The level of import peaked at $X per unit in 2016; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform