Ghana: Market for Sanitary Ware And Parts Of Iron Or Steel 2024

Market Size for Sanitary Ware And Parts Of Iron Or Steel in Ghana

In 2021, the Ghanian market for sanitary ware and parts of iron or steel was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.2% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Sanitary Ware And Parts Of Iron Or Steel in Ghana

In value terms, iron or steel sanitary ware production soared to $X in 2021 estimated in export price. In general, production continues to indicate tangible growth. The pace of growth was the most pronounced in 2013 with an increase of 99% against the previous year. Iron or steel sanitary ware production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Sanitary Ware And Parts Of Iron Or Steel

Exports from Ghana

After two years of decline, overseas shipments of sanitary ware and parts of iron or steel increased by 5.1% to X tons in 2021. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,538% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron or steel sanitary ware exports dropped sharply to $X in 2021. Overall, exports, however, showed a slight downturn. The pace of growth appeared the most rapid in 2013 with an increase of 1,488% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X kg), Burkina Faso (X kg) and Niger (X kg) were the main destinations of iron or steel sanitary ware exports from Ghana, together comprising 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +76.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Burkina Faso ($X) and Niger ($X) constituted the largest markets for iron or steel sanitary ware exported from Ghana worldwide, with a combined 96% share of total exports.

Among the main countries of destination, Benin, with a CAGR of +37.5%, saw the highest rates of growth with regard to 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

In 2021, the average export price for sanitary ware and parts of iron or steel amounted to $X per ton, falling by -22.3% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 97%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Benin ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+70.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sanitary Ware And Parts Of Iron Or Steel

Imports into Ghana

Iron or steel sanitary ware imports into Ghana skyrocketed to X tons in 2021, jumping by 18% compared with 2020 figures. Over the period under review, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 441% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, iron or steel sanitary ware imports surged to $X in 2021. Overall, imports showed a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by 227% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of iron or steel sanitary ware to Ghana, with a 85% share of total imports. Moreover, iron or steel sanitary ware imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by Italy (X tons), with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.7% per year) and Italy (-8.9% per year).

In value terms, China ($X) constituted the largest supplier of sanitary ware and parts of iron or steel to Ghana, comprising 86% of total imports. The second position in the ranking was taken by Italy ($X), with a 2.5% share of total imports. It was followed by the UK, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.4% per year) and the UK (-2.6% per year).

Import Prices by Country

In 2021, the average import price for sanitary ware and parts of iron or steel amounted to $X per ton, increasing by 42% against the previous year. Overall, the import price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 when the average import price increased by 110% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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