ECOWAS: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2025

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in ECOWAS

The ECOWAS market for tubes, pipes and hollow profiles (of iron or steel) expanded significantly to $X in 2021, surging by 6.4% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in ECOWAS

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded strong growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in ECOWAS

In 2021, the amount of tubes, pipes and hollow profiles (of iron or steel) exported in ECOWAS rose notably to X tons, increasing by 7.1% against the previous year's figure. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.9% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 37%. Over the period under review, the exports of attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) expanded notably to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +39.4% against 2019 indices. The pace of growth was the most pronounced in 2018 when exports increased by 37%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Ghana (X tons) and Senegal (X tons) prevails in steel) structure, together committing 83% of total exports. It was distantly followed by Nigeria (X tons) and Togo (X tons), together comprising a 13% share of total exports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +35.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 87% of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +36.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, surging by 5.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 22%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+3.1%), while the other leaders experienced more modest paces of growth.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in ECOWAS

After four years of growth, purchases abroad of tubes, pipes and hollow profiles (of iron or steel) decreased by -4.4% to X tons in 2021. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +44.2% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Over the period under review, imports of reached the peak figure at X tons in 2020, and then declined modestly in the following year.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) expanded sharply to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% 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 +62.2% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 19%. Over the period under review, imports of reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons), distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Niger (X tons), Burkina Faso (X tons) and Guinea (X tons) were the key importers of tubes, pipes and hollow profiles (of iron or steel), together mixing up 89% of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported tubes, pipes and hollow profiles (of iron or steel) in ECOWAS, comprising 38% of total imports. The second position in the ranking was taken by Ghana ($X), with a 17% share of total imports. It was followed by Senegal, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at -2.8%. In the other countries, the average annual rates were as follows: Ghana (-0.2% per year) and Senegal (+21.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 15% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform