Western Africa: Metal Bath Market 2024

Metal Bath Market Size in Western Africa

The West African metal bath market declined to $X in 2021, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, faced a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Metal Bath Production in Western Africa

In value terms, metal bath production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 1,425%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Metal Bath Exports

Exports in Western Africa

In 2021, exports of baths of iron or steel in Western Africa dropped sharply to X tons, which is down by -20.8% on the previous year's figure. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 when exports increased by 158%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, metal bath exports dropped modestly to $X in 2021. Over the period under review, exports recorded a pronounced reduction. The growth pace was the most rapid in 2016 when exports increased by 92% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Niger was the major exporter of baths of iron or steel in Western Africa, with the volume of exports finishing at X tons, which was approx. 42% of total exports in 2021. Senegal (X tons) ranks second in terms of the total exports with an 18% share, followed by Mali (18%) and Nigeria (16%). Benin (X kg) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the baths of iron or steel exports, with a CAGR of +23.1% from 2012 to 2021. At the same time, Benin (+11.0%) displayed positive paces of growth. By contrast, Nigeria (-5.3%), Mali (-5.4%) and Senegal (-28.3%) illustrated a downward trend over the same period. Niger (+41 p.p.), Mali (+12 p.p.), Nigeria (+10 p.p.) and Benin (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by -59.1% from 2012 to 2021, respectively.

In value terms, Niger ($X) remains the largest metal bath supplier in Western Africa, comprising 69% of total exports. The second position in the ranking was taken by Mali ($X), with a 22% share of total exports. It was followed by Nigeria, with a 5.3% share.

In Niger, metal bath exports increased at an average annual rate of +36.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (+5.4% per year) and Nigeria (-13.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, jumping by 23% against the previous year. Overall, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2013 when the export price increased by 88%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+11.3%), while the other leaders experienced mixed trends in the export price figures.

Metal Bath Imports

Imports in Western Africa

In 2021, supplies from abroad of baths of iron or steel increased by 4.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a drastic downturn. The growth pace was the most rapid in 2018 when imports increased by 101% 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, metal bath imports shrank to $X in 2021. In general, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 64%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, recording X tons, which was approx. 67% of total imports in 2021. It was distantly followed by Ghana (X tons), Mauritania (X tons) and Gambia (X tons), together generating an 18% share of total imports. Burkina Faso (X tons), Senegal (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to metal bath imports into Nigeria stood at -16.8%. At the same time, Burkina Faso (+23.3%), Gambia (+16.6%) and Senegal (+6.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.3% from 2012-2021. Mauritania and Ghana experienced a relatively flat trend pattern. By contrast, Cabo Verde (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Gambia, Mauritania, Burkina Faso, Senegal and Cabo Verde increased by +5.1, +5.1, +4.4, +3.5, +3 and +1.5 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported baths of iron or steel in Western Africa, comprising 52% of total imports. The second position in the ranking was held by Ghana ($X), with a 13% share of total imports. It was followed by Mauritania, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled -16.8%. In the other countries, the average annual rates were as follows: Ghana (+3.2% per year) and Mauritania (+0.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, dropping by -13.8% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal bath import price increased by +50.6% against 2019 indices. The growth pace was the most rapid in 2020 when the import price increased by 75%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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