Western Africa: Cored Arc-Welding Wire Market 2025

Cored Arc-Welding Wire Market Size in Western Africa

After three years of decline, the West African cored arc-welding wire market increased by 7.2% to $X in 2021. Over the period under review, consumption, however, recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cored Arc-Welding Wire Production in Western Africa

In value terms, cored arc-welding wire production fell slightly to $X in 2021 estimated in export price. In general, production showed a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of 118% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in Western Africa

In 2021, overseas shipments of cored arc-welding wire increased by 73% to X tons, rising for the fifth consecutive year after three years of decline. Overall, exports, however, saw a mild reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 98%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, cored arc-welding wire exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 202%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) represented roughly 99% of total exports in 2021.

Nigeria was also the fastest-growing in terms of the cored arc-welding wire exports, with a CAGR of +3.9% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +39 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest cored arc-welding wire supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +3.4%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, which is down by -3.9% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 65% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -0.5% per year.

Cored Arc-Welding Wire Imports

Imports in Western Africa

In 2021, after two years of decline, there was significant growth in supplies from abroad of cored arc-welding wire, when their volume increased by 36% to X tons. In general, imports, however, showed a sharp decrease. The growth pace was the most rapid in 2017 with an increase of 37% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cored arc-welding wire imports surged to $X in 2021. Overall, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 58% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X tons) represented the largest importer of cored arc-welding wire, committing 37% of total imports. Ghana (X tons) took the second position in the ranking, followed by Guinea (X tons), Cote d'Ivoire (X tons), Mauritania (X tons), Senegal (X tons) and Niger (X tons). All these countries together took near 52% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cored arc-welding wire imports into Nigeria stood at -32.7%. At the same time, Mauritania (+20.6%), Senegal (+16.7%), Guinea (+15.4%), Niger (+12.8%) and Cote d'Ivoire (+10.9%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.6% from 2012-2021. Ghana experienced a relatively flat trend pattern. Ghana (+15 p.p.), Guinea (+12 p.p.), Cote d'Ivoire (+7.6 p.p.), Mauritania (+5.6 p.p.), Senegal (+4.8 p.p.) and Niger (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -59.8% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported cored arc-welding wire in Western Africa, comprising 40% of total imports. The second position in the ranking was taken by Ghana ($X), with a 19% share of total imports. It was followed by Cote d'Ivoire, with a 14% share.

In Nigeria, cored arc-welding wire imports decreased by an average annual rate of -26.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-1.0% per year) and Cote d'Ivoire (+18.0% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 4.4% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cored arc-welding wire import price decreased by +0.2% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 63% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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