Western Africa: Market for Base Metal Fittings For Loose-Leaf Binders Or Files 2024

Market Size for Base Metal Fittings For Loose-Leaf Binders Or Files in Western Africa

For the third consecutive year, the West African loose-leaf binder metal fitting market recorded growth in sales value, which increased by 7.1% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Base Metal Fittings For Loose-Leaf Binders Or Files in Western Africa

In value terms, loose-leaf binder metal fitting production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced slump. The growth pace was the most rapid in 2015 with an increase of 5.9% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Base Metal Fittings For Loose-Leaf Binders Or Files

Exports in Western Africa

In 2022, loose-leaf binder metal fitting exports in Western Africa shrank remarkably to X kg, with a decrease of -97.8% compared with the year before. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 4,569%. As a result, the exports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, loose-leaf binder metal fitting exports fell remarkably to $X in 2022. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 when exports increased by 5,199%. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

Benin was the key exporting country with an export of around X kg, which recorded 81% of total exports. It was distantly followed by Nigeria (X kg), constituting a 19% share of total exports.

Benin was also the fastest-growing in terms of the base metal fittings for loose-leaf binders or files exports, with a CAGR of -2.5% from 2012 to 2022. Nigeria (-12.1%) illustrated a downward trend over the same period. Benin (+34 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -12.5% from 2012 to 2022, respectively.

In value terms, the largest loose-leaf binder metal fitting supplying countries in Western Africa were Nigeria ($X) and Benin ($X).

Benin, with a CAGR of -2.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by -12.9% against the previous year. Overall, the export price, however, recorded slight growth. The growth pace was the most rapid in 2018 when the export price increased by 177% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Benin amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+10.7%).

Imports of Base Metal Fittings For Loose-Leaf Binders Or Files

Imports in Western Africa

In 2022, purchases abroad of base metal fittings for loose-leaf binders or files decreased by -14.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, loose-leaf binder metal fitting imports reduced markedly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 70% against the previous year. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Senegal (X tons), Nigeria (X tons), Gambia (X tons), Cote d'Ivoire (X tons) and Togo (X tons) was the major importer of base metal fittings for loose-leaf binders or files in Western Africa, achieving 82% of total import. It was distantly followed by Ghana (X tons), Benin (X tons) and Cabo Verde (X tons), together generating a 15% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of +31.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest loose-leaf binder metal fitting importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), together comprising 59% of total imports. Gambia, Ghana, Cabo Verde, Togo and Benin lagged somewhat behind, together comprising a further 35%.

Gambia, with a CAGR of +29.4%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Western Africa stood at $X per ton in 2022, waning by -7.3% against the previous year. In general, the import price saw a noticeable reduction. The growth pace was the most rapid in 2019 an increase of 7.2%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Gambia ($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 (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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