Western Africa: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Western Africa

In 2022, the West African coated arc-welding electrode market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted in the following year.

Coated Arc-Welding Electrode Production in Western Africa

In value terms, coated arc-welding electrode production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports in Western Africa

In 2022, shipments abroad of coated base metal electrodes for electric arc-welding decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, coated arc-welding electrode exports declined to $X in 2022. Overall, exports recorded a drastic downturn. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Ghana (X tons), generating a X% share of total exports. Benin (X tons), Burkina Faso (X tons) and Senegal (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest coated arc-welding electrode supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2021 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 ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports in Western Africa

In 2022, coated arc-welding electrode imports in Western Africa expanded slightly to X tons, with an increase of X% against the year before. In general, imports saw measured growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, coated arc-welding electrode imports shrank to $X in 2022. Over the period under review, imports saw noticeable growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Ghana represented the key importer of coated base metal electrodes for electric arc-welding in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%), Mali (X%), Niger (X%), Cote d'Ivoire (X%) and Burkina Faso (X%).

From 2012 to 2022, average annual rates of growth with regard to coated arc-welding electrode imports into Ghana stood at X%. At the same time, Niger (X%), Mali (X%), Guinea (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Mali (X p.p.), Guinea (X p.p.), Niger (X p.p.), Burkina Faso (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported coated base metal electrodes for electric arc-welding in Western Africa, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Nigeria, with an X% share.

In Ghana, coated arc-welding electrode imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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