ECOWAS: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in ECOWAS

The ECOWAS market for tube or pipe fittings (of iron or steel) surged to $X in 2022, jumping by 49% against the previous year. Over the period under review, consumption showed a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in ECOWAS

In value terms, iron or steel tube fitting production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 82%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in shipments abroad of tube or pipe fittings (of iron or steel), which decreased by -0.7% to X tons in 2022. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -17.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 93% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel tube fitting exports reduced modestly to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 66%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Benin (X tons), Senegal (X tons), Ghana (X tons) and Nigeria (X tons) represented the largest exporters of tube or pipe fittings (of iron or steel), together committing 89% of total exports. Niger (X tons) and Burkina Faso (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 key exporting countries, was attained by Benin (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest iron or steel tube fitting supplier in ECOWAS, comprising 42% of total exports. The second position in the ranking was taken by Ghana ($X), with a 20% share of total exports. It was followed by Senegal, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled +28.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-3.5% per year) and Senegal (+1.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -4.1% against the previous year. Overall, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 33%. The level of export peaked at $X per ton in 2013; however, from 2014 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 Senegal (+0.4%), while the other leaders experienced a decline in the export price figures.

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports in ECOWAS

In 2022, iron or steel tube fitting imports in ECOWAS skyrocketed to X tons, rising by 63% against the previous year. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel tube fitting imports surged to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 80% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. 75% of total imports in 2022. It was distantly followed by Niger (X tons), committing a 5.1% share of total imports. The following importers - Ghana (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Guinea (X tons) and Burkina Faso (X tons) - together made up 16% of total imports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel tube fitting imports into Nigeria stood at +11.0%. At the same time, Niger (+20.1%), Cote d'Ivoire (+13.8%), Senegal (+9.4%) and Burkina Faso (+3.9%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +20.1% from 2012-2022. Guinea and Ghana experienced a relatively flat trend pattern. While the share of Nigeria (+8.7 p.p.) and Niger (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Guinea (-2.2 p.p.) and Ghana (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported tube or pipe fittings (of iron or steel) in ECOWAS, comprising 62% of total imports. The second position in the ranking was held by Niger ($X), with an 8.2% share of total imports. It was followed by Cote d'Ivoire, with a 7% share.

In Nigeria, iron or steel tube fitting imports expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (+17.7% per year) and Cote d'Ivoire (+13.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, declining by -24.9% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The growth pace was the most rapid in 2019 when the import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform