Ghana: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

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

The Ghanian market for tube or pipe fittings (of iron or steel) dropped modestly to $X in 2022, waning by -3.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a relatively flat trend pattern. Iron or steel tube fitting consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

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

Exports from Ghana

In 2022, the amount of tube or pipe fittings (of iron or steel) exported from Ghana reduced remarkably to X tons, shrinking by -24.6% compared with the previous year. Overall, exports showed a pronounced contraction. The pace of growth was the most pronounced in 2019 when exports increased by 235%. As a result, the exports attained 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 dropped dramatically to $X in 2022. Over the period under review, exports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 135% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons), Sweden (X tons) and the Netherlands (X tons) were the main destinations of iron or steel tube fitting exports from Ghana, together comprising 58% of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +86.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel tube fitting exported from Ghana were Niger ($X), the Netherlands ($X) and Cote d'Ivoire ($X), together accounting for 64% of total exports. Burkina Faso, Sweden, Belgium, Angola, the UK, Mali and Togo lagged somewhat behind, together accounting for a further 22%.

Sweden, with a CAGR of +69.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, growing by 5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 200% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Togo ($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 the UK (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Ghana

In 2022, imports of tube or pipe fittings (of iron or steel) into Ghana expanded significantly to X tons, picking up by 7.1% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 140%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports declined to $X in 2022. Over the period under review, imports, however, saw a mild descent. The growth pace was the most rapid in 2015 when imports increased by 257%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Ghana, accounting for a 56% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold. Angola (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.1% per year) and Angola (+17.6% per year).

In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Ghana, comprising 30% of total imports. The second position in the ranking was taken by the UK ($X), with an 11% share of total imports. It was followed by South Africa, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+0.4% per year) and South Africa (-9.7% per year).

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, which is down by -14.1% against the previous year. Overall, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2015 an increase of 49%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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