Western Africa: Extruded Rod Market 2022

Extruded Rod Market Size in Western Africa

In 2021, the West African extruded rod market was finally on the rise to reach $X after two years of decline. In general, consumption recorded a abrupt slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Extruded Rod Production in Western Africa

In value terms, extruded rod production totaled $X in 2021 estimated in export price. In general, production continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Extruded Rod Exports

Exports in Western Africa

Extruded rod exports contracted significantly to X tons in 2021, reducing by -X% compared with 2020. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, extruded rod exports declined to $X in 2021. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ghana dominates exports structure, reaching X tons, which was approx. X% of total exports in 2021. It was distantly followed by Nigeria (X kg), comprising a X% share of total exports.

Ghana was also the fastest-growing in terms of the extruded rods and profile shapes of cellular vulcanised rubber exports, with a CAGR of +X% from 2012 to 2021. At the same time, Nigeria (+X%) displayed positive paces of growth. From 2012 to 2021, the share of Ghana increased by +X percentage points. Nigeria (-X p.p.) saw their shares reduced.

In value terms, Ghana ($X) remains the largest extruded rod supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total exports.

In Ghana, extruded rod exports increased at an average annual rate of +X% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by X% against the previous year. In general, the export price saw strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+X%).

Extruded Rod Imports

Imports in Western Africa

In 2021, the amount of extruded rods and profile shapes of cellular vulcanised rubber imported in Western Africa contracted to X tons, which is down by -X% compared with the year before. In general, imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, extruded rod imports contracted notably to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +X% 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 +X% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Togo (X tons) and Burkina Faso (X tons) represented roughly X% of total imports in 2021. Mauritania (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%) and Senegal (X%). Cote d'Ivoire (X tons) and Ghana (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Burkina Faso (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Mauritania ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2021, with a combined X% share of total imports. These countries were followed by Cote d'Ivoire, Senegal, Ghana and Burkina Faso, which together accounted for a further X the main importing countries, Burkina Faso, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, 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 2021, with a decrease of -X% against the previous year. Over the period under review, the import price showed a noticeable slump. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, 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.

Source: IndexBox Platform

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