Western Africa: Metal Honing Machine Market 2025

Metal Honing Machine Market Size in Western Africa

In 2021, after two years of growth, there was significant decline in the West African metal honing machine market, when its value decreased by -7.9% to $X. Overall, consumption saw a mild increase. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Metal Honing Machine Production in Western Africa

In value terms, metal honing machine production shrank modestly to $X in 2021 estimated in export price. In general, production, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Metal Honing Machine Exports

Exports in Western Africa

In 2021, the amount of honing or lapping machines for working metal exported in Western Africa totaled X units, flattening at the previous year. Over the period under review, exports recorded a perceptible curtailment. The smallest decline of -33.3% was in 2013. The volume of export peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal honing machine exports skyrocketed to $X in 2021. In general, exports continue to indicate a deep setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Liberia (X units) represented the largest exporter of honing or lapping machines for working metal in Western Africa, constituting 100% of total export.

Liberia experienced a relatively flat trend pattern with regard to volume of exports of honing or lapping machines for working metal. Liberia (+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.

In Liberia, metal honing machine exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, almost unchanged from the previous year. In general, the export price showed a sharp reduction. The most prominent rate of growth was recorded in 2014 when the export price decreased by -25.8% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 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 Liberia.

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

Metal Honing Machine Imports

Imports in Western Africa

In 2021, purchases abroad of honing or lapping machines for working metal increased by 15% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2020 when imports increased by 277%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, metal honing machine imports declined dramatically to $X in 2021. Overall, imports posted resilient growth. The growth pace was the most rapid in 2020 when imports increased by 141% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

Nigeria prevails in imports structure, recording X units, which was approx. 82% of total imports in 2021. The following importers - Burkina Faso (X units), Niger (X units), Benin (X units) and Mali (X units) - together made up 13% of total imports.

Nigeria was also the fastest-growing in terms of the honing or lapping machines for working metal imports, with a CAGR of +42.5% from 2012 to 2021. At the same time, Mali (+34.1%) and Niger (+8.5%) displayed positive paces of growth. Benin experienced a relatively flat trend pattern. By contrast, Burkina Faso (-32.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Niger, Benin and Mali increased by +80, +2.6, +2.4 and +2.2 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported honing or lapping machines for working metal in Western Africa, comprising 47% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 15% share of total imports. It was followed by Mali, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +26.6%. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+0.7% per year) and Mali (+74.2% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, reducing by -45.4% against the previous year. Overall, the import price, however, recorded buoyant growth. The growth pace was the most rapid in 2013 when the import price increased by 459% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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 Mali ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+49.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :