Western Africa: Market for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment 2024

Market Size for Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Western Africa

The West African market for reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment expanded slightly to $X in 2022, surging by 2.3% against the previous year. Overall, consumption posted a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Western Africa

In value terms, production of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment expanded modestly to $X in 2022 estimated in export price. Overall, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 54% against the previous year. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Exports in Western Africa

For the sixth consecutive year, Western Africa recorded decline in overseas shipments of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment, which decreased by -19.4% to X tons in 2022. Over the period under review, exports saw a significant contraction. The pace of growth appeared the most rapid in 2014 with an increase of 1,776% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment reduced dramatically to $X in 2022. In general, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 464% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Benin was the main exporting country with an export of about X tons, which recorded 69% of total exports. It was distantly followed by Cote d'Ivoire (X tons), making up a 24% share of total exports. The following exporters - Senegal (X kg) and Nigeria (X kg) - each accounted for a 6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment exports from Benin stood at +13.4%. At the same time, Nigeria (+14.5%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +14.5% from 2012-2022. By contrast, Senegal (-7.1%) and Cote d'Ivoire (-19.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin, Cote d'Ivoire, Nigeria and Senegal increased by +68, +4.4, +2.9 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment supplying countries in Western Africa were Benin ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 93% share of total exports.

In terms of the main exporting countries, Benin, with a CAGR of +22.8%, 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

In 2022, the export price in Western Africa amounted to $X per ton, waning by -16.6% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 502% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+13.9%), while the other leaders experienced more modest paces of growth.

Imports of Reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment

Imports in Western Africa

After two years of growth, purchases abroad of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment decreased by -17.8% to X tons in 2022. In general, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 96%. Over the period under review, imports of hit record highs at X tons in 2021, and then fell notably in the following year.

In value terms, imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment declined markedly to $X in 2022. Overall, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 104%. The level of import peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

Nigeria was the key importer of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Western Africa, with the volume of imports recording X tons, which was approx. 51% of total imports in 2022. Ghana (X tons) held the second position in the ranking, followed by Sierra Leone (X tons) and Burkina Faso (X tons). All these countries together held approx. 36% share of total imports. The following importers - Guinea (X tons), Mali (X tons) and Cote d'Ivoire (X tons) - each finished at a 6.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment imports into Nigeria stood at +16.2%. At the same time, Sierra Leone (+63.3%), Burkina Faso (+51.1%), Guinea (+41.7%), Mali (+24.3%) and Ghana (+7.4%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +63.3% from 2012-2022. By contrast, Cote d'Ivoire (-1.6%) illustrated a downward trend over the same period. While the share of Nigeria (+25 p.p.), Sierra Leone (+15 p.p.), Burkina Faso (+4.7 p.p.), Guinea (+2.2 p.p.) and Mali (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-2.3 p.p.) and Cote d'Ivoire (-2.6 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment in Western Africa, comprising 52% of total imports. The second position in the ranking was taken by Sierra Leone ($X), with a 17% share of total imports. It was followed by Ghana, with an 11% share.

In Nigeria, imports of reservoirs, tanks, vats and similar containers, of aluminium, capacity exceeding 300l, without mechanical or thermal equipment expanded at an average annual rate of +10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Sierra Leone (+64.3% per year) and Ghana (+0.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by 2.2% against the previous year. Overall, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2014 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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