Western Africa: Market for Copper Tubes And Pipes 2024

Market Size for Copper Tubes And Pipes in Western Africa

The West African copper tube and pipe market rose to $X in 2021, growing by 2.8% against the previous year. Overall, consumption, however, recorded a perceptible slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Tubes And Pipes in Western Africa

In value terms, copper tube and pipe production rose to $X in 2021 estimated in export price. In general, production, however, saw a pronounced downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Copper Tubes And Pipes

Exports in Western Africa

In 2021, shipments abroad of copper tubes and pipes increased by 235% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt descent. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, copper tube and pipe exports skyrocketed to $X in 2021. Overall, exports, however, saw a deep slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria was the main exporter of copper tubes and pipes in Western Africa, with the volume of exports recording X tons, which was near 70% of total exports in 2021. It was distantly followed by Ghana (X tons), comprising a 27% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the copper tubes and pipes exports, with a CAGR of +42.4% from 2012 to 2021. At the same time, Senegal (+11.2%) displayed positive paces of growth. By contrast, Ghana (-19.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Senegal increased by +69 and +1.9 percentage points, respectively.

In value terms, the largest copper tube and pipe supplying countries in Western Africa were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined 98% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +35.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, reducing by -21.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 16%. As a result, the export price attained the peak level of $X per ton, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Copper Tubes And Pipes

Imports in Western Africa

In 2021, overseas purchases of copper tubes and pipes decreased by -13.6% to X tons for the first time since 2017, thus ending a three-year rising trend. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.9% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 42%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, copper tube and pipe imports surged to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.0% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana represented the largest importing country with an import of about X tons, which finished at 37% of total imports. It was distantly followed by Cote d'Ivoire (X tons), Nigeria (X tons), Senegal (X tons) and Guinea (X tons), together generating a 48% share of total imports. The following importers - Benin (X tons) and Cabo Verde (X tons) - each reached a 6.3% share of total imports.

Ghana was also the fastest-growing in terms of the copper tubes and pipes imports, with a CAGR of +13.4% from 2012 to 2021. At the same time, Cabo Verde (+9.5%), Senegal (+8.2%), Cote d'Ivoire (+7.9%) and Guinea (+3.4%) displayed positive paces of growth. Nigeria experienced a relatively flat trend pattern. By contrast, Benin (-21.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Cote d'Ivoire and Senegal increased by +21, +5.5 and +4.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported copper tubes and pipes in Western Africa, comprising 44% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 17% share of total imports. It was followed by Senegal, with a 12% share.

In Ghana, copper tube and pipe imports expanded at an average annual rate of +15.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+11.3% per year) and Senegal (+12.5% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, picking up by 66% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Cabo Verde ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform