Report Western Africa - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Mar 1, 2025

Western Africa - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Western Africa

The West African hot-rolled steel products market declined to $X in 2021, with a decrease of -12.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Hot-Rolled Steel Products Production in Western Africa

In value terms, hot-rolled steel products production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in Western Africa

In 2021, after three years of decline, there was significant growth in shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume increased by 24% to X tons. In general, exports, however, showed a pronounced shrinkage. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. Overall, exports, however, saw a pronounced descent. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, resulting at X tons, which was near 72% of total exports in 2021. Benin (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons), Ghana (X tons) and Togo (X tons). All these countries together took near 24% share of total exports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled steel products exports from Senegal stood at -1.8%. At the same time, Cote d'Ivoire (+12.5%) and Benin (+3.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +12.5% from 2012-2021. By contrast, Togo (-10.2%), Ghana (-14.5%) and Nigeria (-18.5%) illustrated a downward trend over the same period. While the share of Senegal (+12 p.p.), Cote d'Ivoire (+4.6 p.p.) and Benin (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Togo (-4.4 p.p.), Nigeria (-5.3 p.p.) and Ghana (-10.8 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest hot-rolled steel products supplier in Western Africa, comprising 77% of total exports. The second position in the ranking was held by Benin ($X), with a 6.3% share of total exports. It was followed by Ghana, with a 5.6% share.

In Senegal, hot-rolled steel products exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Benin (+2.4% per year) and Ghana (-13.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, picking up by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price attained 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, amid the top suppliers, 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 (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Steel Products Imports

Imports in Western Africa

In 2021, imports of flat-rolled products of iron or steel (not further worked than hot-rolled) in Western Africa reduced rapidly to X tons, with a decrease of -36.8% compared with 2020 figures. In general, imports recorded a noticeable curtailment. The growth pace was the most rapid in 2020 when imports increased by 72% against the previous year. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, hot-rolled steel products imports plummeted to $X in 2021. Overall, imports, however, recorded a temperate expansion. The pace of growth appeared the most rapid in 2020 with an increase of 70%. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was near 76% of total imports in 2021. Ghana (X tons) held the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together held approx. 13% share of total imports. Senegal (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of -3.2% from 2012 to 2021. At the same time, Cote d'Ivoire (+5.4%), Senegal (+1.3%) and Ghana (+1.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +5.4% from 2012-2021. Cote d'Ivoire (+2.6 p.p.) and Ghana (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -7.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in Western Africa, comprising 71% of total imports. The second position in the ranking was held by Ghana ($X), with an 8.9% share of total imports. It was followed by Cote d'Ivoire, with a 6.3% share.

In Nigeria, hot-rolled steel products imports increased at an average annual rate of +3.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+2.2% per year) and Cote d'Ivoire (+6.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, growing by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.4%. The pace of growth was the most pronounced in 2013 when the import price increased by 67% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Ghana ($X per ton), while Nigeria ($X per ton) and Senegal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of in 2021 were Togo, Nigeria and Ghana, with a combined 93% share of total consumption.
Togo constituted the country with the largest volume of hot-rolled steel products production, comprising approx. 100% of total volume.
In value terms, Senegal remains the largest hot-rolled steel products supplier in Western Africa, comprising 66% of total exports. The second position in the ranking was occupied by Ghana, with a 14% share of total exports. It was followed by Benin, with a 9.1% share.
In value terms, Nigeria constitutes the largest market for imported flat-rolled products of iron or steel not further worked than hot-rolled) in Western Africa, comprising 81% of total imports. The second position in the ranking was occupied by Ghana, with a 5% share of total imports. It was followed by Cote d'Ivoire, with a 4% share.
In 2021, the export price in Western Africa amounted to $764 per ton, remaining relatively unchanged against the previous year.
The import price in Western Africa stood at $772 per ton in 2021, surging by 17% against the previous year.

This report provides an in-depth analysis of the hot-rolled steel products market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
  • Prodcom 24103130 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, not in coils, simply hot-rolled, not clad, plated or coated, w ith patterns in relief directly due to the rolling process and products of a thickness < 4,75 mm, without patterns in relief
  • Prodcom 24103150 - Flat-rolled products, of iron or non-alloy steel, of a width . .600 mm (excluding
  • Prodcom 24103210 - Flat-rolled products of iron or non-alloy steel, simply hot-rolled on four faces or in a closed box pass, not clad, plated or coated, of a width of > .150 mm but < .600 mm and a thickness of . 4 mm, not in coils, without patterns in relief, commonly
  • Prodcom 24103230 - Flat-rolled products of iron or non-alloy steel, of a width < .600 mm, simply hot-rolled, not clad, plated or coated (excluding
  • Prodcom 24103330 - Plates and sheets produced by cutting from hot-rolled wide strip of a width of .600 mm or more, of stainless steel
  • Prodcom 24103340 - Plates and sheets produced on a reversing mill (quarto) of a width of .600 mm or more and wide flats, of stainless steel
  • Prodcom 241033Z0 - Hot-rolled flat products in coil of a width . .600 mm, of stainless steel
  • Prodcom 241034Z0 - Hot-rolled flat products in coil of a width < .600 mm, of stainless steel
  • Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
  • Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
  • Prodcom 24103530 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, not in coils (excluding organic coated products, p roducts of a thickness < 4,75 mm and products of high-
  • Prodcom 24103540 - Flat-rolled products of alloy steel other than stainless, of a width . .600 mm, not further worked than hot-rolled, not in coils, of a thickness of < 4,75 mm (excluding products of tool steel, high-speed steel or silicon-electrical steel)
  • Prodcom 24103600 - Flat-rolled products of alloy steel other than stainless, of a width of < .600 mm, not further worked than hot-rolled (excluding products of high-speed steel or silicon-electrical steel)

Country coverage:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo
  • Cote d'Ivoire

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Western Africa, split by region and country
  • Trade (exports and imports) in Western Africa
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT
  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES
  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS
  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire
  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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