Ghana: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Ghana

In 2022, after two years of growth, there was significant decline in the Ghanian market for line pipe of steel other than stainless steel for oil or gas pipelines, when its value decreased by -7.2% to $X. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from Ghana

In 2022, after two years of growth, there was significant decline in shipments abroad of line pipe of steel other than stainless steel for oil or gas pipelines, when their volume decreased by -41.3% to X tons. Overall, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 729%. The exports peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines reduced markedly to $X in 2022. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,316%. The exports peaked at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Mali (X tons), Burkina Faso (X tons) and Togo (X kg) were the main destinations of exports of line pipe of steel other than stainless steel for oil or gas pipelines from Ghana, together accounting for 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +51.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) remains the key foreign market for line pipe of steel other than stainless steel for oil or gas pipelines exports from Ghana, comprising 56% of total exports. The second position in the ranking was held by Benin ($X), with a 17% share of total exports. It was followed by Burkina Faso, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Mali stood at +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+5.1% per year) and Burkina Faso (+3.9% per year).

Export Prices by Country

The average export price for line pipe of steel other than stainless steel for oil or gas pipelines stood at $X per ton in 2022, with an increase of 6.4% against the previous year. Overall, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 71% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+4.4%), while the prices for the other major destinations experienced a decline.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into Ghana

After two years of growth, supplies from abroad of line pipe of steel other than stainless steel for oil or gas pipelines decreased by -21.9% to X tons in 2022. In general, imports recorded a slight descent. The growth pace was the most rapid in 2020 when imports increased by 117% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 354%. Over the period under review, imports of attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Ghana, accounting for a 94% share of total imports. It was followed by the UK (X tons), with a 1.7% share of total imports. Italy (X tons) ranked third in terms of total imports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-13.7% per year) and Italy (-36.2% per year).

In value terms, China ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to Ghana, comprising 54% of total imports. The second position in the ranking was held by the UK ($X), with a 4.1% share of total imports. It was followed by Italy, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-14.6% per year) and Italy (-11.3% per year).

Import Prices by Country

The average import price for line pipe of steel other than stainless steel for oil or gas pipelines stood at $X per ton in 2022, increasing by 54% against the previous year. Overall, the import price posted a pronounced increase. The growth pace was the most rapid in 2020 an increase of 109%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+52.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform