Western Africa: Market for Articles Of Non-Malleable Cast Iron 2024

Market Size for Articles Of Non-Malleable Cast Iron in Western Africa

The West African non-malleable cast iron articles market fell to $X in 2022, declining by -2.2% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2019 when the market value increased by 8.1% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Articles Of Non-Malleable Cast Iron in Western Africa

In value terms, non-malleable cast iron articles production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Articles Of Non-Malleable Cast Iron

Exports in Western Africa

In 2022, approx. X tons of articles of non-malleable cast iron were exported in Western Africa; with a decrease of -40.2% on the previous year. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 448% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, non-malleable cast iron articles exports contracted markedly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 619% against the previous year. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

Nigeria represented the largest exporting country with an export of around X tons, which reached 68% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 19% share, followed by Ghana (6.9%). Sierra Leone (X kg) and Togo (X kg) followed a long way behind the leaders.

Exports from Nigeria increased at an average annual rate of +27.5% from 2012 to 2022. At the same time, Ghana (+53.8%) and Cote d'Ivoire (+16.1%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +53.8% from 2012-2022. By contrast, Sierra Leone (-14.6%) and Togo (-16.5%) illustrated a downward trend over the same period. Nigeria (+64 p.p.), Cote d'Ivoire (+17 p.p.), Ghana (+6.8 p.p.) and Sierra Leone (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by -4.3% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest non-malleable cast iron articles supplier in Western Africa, comprising 82% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7.4% share of total exports. It was followed by Sierra Leone, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +50.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+19.5% per year) and Sierra Leone (+1.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, reducing by -5.4% against the previous year. Over the period under review, the export price, however, enjoyed a strong increase. The growth pace was the most rapid in 2015 when the export price increased by 139%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Nigeria ($X per ton), while Ghana ($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 (+19.0%), while the other leaders experienced more modest paces of growth.

Imports of Articles Of Non-Malleable Cast Iron

Imports in Western Africa

In 2022, imports of articles of non-malleable cast iron in Western Africa contracted modestly to X tons, reducing by -2.9% against 2021. Over the period under review, imports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 61% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-malleable cast iron articles imports reduced to $X in 2022. In general, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2018 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of non-malleable cast iron articles imports in 2022 were Ghana (X tons), Senegal (X tons), Togo (X tons), Cote d'Ivoire (X tons), Guinea (X tons), Mauritania (X tons) and Burkina Faso (X tons), together resulting at 85% of total import.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +35.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-malleable cast iron articles importing markets in Western Africa were Togo ($X), Senegal ($X) and Cote d'Ivoire ($X), together comprising 51% of total imports.

Togo, with a CAGR of +36.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, reducing by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2016 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

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 Togo ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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