Report Update Nov 1, 2024

Western Africa - Flat-Rolled Products of Silicon-Electrical Steel - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2024

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Western Africa

In 2021, the West African silicon-electrical steel flat-rolled product market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, saw a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Western Africa

In value terms, silicon-electrical steel flat-rolled product production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Western Africa

In 2021, silicon-electrical steel flat-rolled product exports in Western Africa skyrocketed to X tons, growing by 67% on 2020. In general, exports, however, saw a precipitous curtailment. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports soared to $X in 2021. Overall, exports, however, saw a dramatic decline. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of flat-rolled products of silicon-electrical steel, namely Benin, represented more than two-thirds of total export.

Benin experienced a relatively flat trend pattern with regard to volume of exports of flat-rolled products of silicon-electrical steel. Benin (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2021, the average annual growth rate of value in Benin was relatively modest.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, stabilizing at the previous year. In general, the export price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of 709% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to 0.0% per year.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Western Africa

In 2021, silicon-electrical steel flat-rolled product imports in Western Africa skyrocketed to X tons, increasing by 205% against the previous year. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2021. In general, imports saw a buoyant increase. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Benin was the major importing country with an import of about X tons, which recorded 70% of total imports. It was distantly followed by Nigeria (X tons), Mauritania (X tons) and Gambia (X tons), together creating a 23% share of total imports. Togo (X tons) took a relatively small share of total imports.

Benin was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel imports, with a CAGR of +155.8% from 2012 to 2021. At the same time, Togo (+22.9%), Gambia (+22.4%) and Mauritania (+2.4%) displayed positive paces of growth. Nigeria experienced a relatively flat trend pattern. From 2012 to 2021, the share of Benin, Gambia and Togo increased by +70, +2.3 and +1.7 percentage points, respectively.

In value terms, Benin ($X), Nigeria ($X) and Mauritania ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 89% share of total imports.

Benin, with a CAGR of +136.6%, recorded 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

In 2021, the import price in Western Africa amounted to $X per ton, waning by -17.6% against the previous year. In general, the import price saw a noticeable descent. The growth pace was the most rapid in 2016 when the import price increased by 50% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the 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 Nigeria ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+12.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for flat-rolled products of silicon-electrical steel in Western Africa?

The countries with the highest volumes of in 2021 were Ghana, Cote d'Ivoire and Togo, together accounting for 61% of total consumption.

What are the largest producers of flat-rolled products of silicon-electrical steel in Western Africa?

The countries with the highest volumes of in 2021 were Ghana, Cote d'Ivoire and Togo, with a combined 62% share of total production.

What are the leading importers of flat-rolled products of silicon-electrical steel in Western Africa?

In value terms, Benin, Nigeria and Senegal appeared to be the countries with the highest levels of imports in 2021, together comprising 90% of total imports.

What is the average export price for flat-rolled products of silicon-electrical steel in Western Africa?

In 2021, the export price in Western Africa amounted to $756 per ton, leveling off at the previous year.

What is the average import price for flat-rolled products of silicon-electrical steel in Western Africa?

The import price in Western Africa stood at $759 per ton in 2021, rising by 6% against the previous year.

This report provides an in-depth analysis of the market for silicon-electrical steel flat-rolled product 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 24105310 - Electrical sheet and strip, grain oriented of a width of .600 mm or more
Prodcom 24105330 - Flat-rolled products of silicon-electrical steel, of a width . .600 mm, non-grain-oriented
Prodcom 24105410 - Electrical cold-rolled slit strip, grain oriented, in silicon-alloy steel, of a width of < .600 mm
Prodcom 24105430 - Flat-rolled products of silicon-electrical steel, of a width < .600 mm, non-grain-oriented

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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. 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
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
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, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023