Tanzania: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Tanzania

The Tanzanian forged stainless steel bar market contracted to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Forged stainless steel bar consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Forged Bars Of Stainless Steel in Tanzania

In value terms, forged stainless steel bar production declined to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Forged stainless steel bar production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Forged Bars Of Stainless Steel

Exports from Tanzania

In 2022, overseas shipments of forged bars of stainless steel decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a prominent increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, forged stainless steel bar exports soared to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for forged stainless steel bar exports from Tanzania, accounting for a X% share of total exports. Moreover, forged stainless steel bar exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Uganda (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Democratic Republic of the Congo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (X% per year) and Comoros (X% per year).

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for forged bars of stainless steel exports from Tanzania, comprising X% of total exports. The second position in the ranking was taken by Uganda ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Democratic Republic of the Congo stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (X% per year) and Comoros (X% per year).

Export Prices by Country

The average forged stainless steel bar export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price posted buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Comoros ($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 Democratic Republic of the Congo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports into Tanzania

Forged stainless steel bar imports into Tanzania skyrocketed to X tons in 2022, increasing by X% on the year before. In general, imports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, forged stainless steel bar imports soared to $X in 2022. Overall, imports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of forged stainless steel bar to Tanzania, with a X% share of total imports. Moreover, forged stainless steel bar imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. The third position in this ranking was held by Tunisia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (X% per year) and Tunisia (X% per year).

In value terms, China ($X), South Africa ($X) and Tunisia ($X) constituted the largest forged stainless steel bar suppliers to Tanzania, together accounting for X% of total imports. India, Belgium, Turkey, Kenya and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average forged stainless steel bar import price amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2021, and then declined in the following year.

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

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

Source: IndexBox Platform