Western Africa: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2025

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Western Africa

The West African market for hot-rolled wire rod in coil of stainless steel totaled $X in 2022, flattening at the previous year. Over the period under review, consumption enjoyed tangible growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Western Africa

In value terms, hot-rolled wire stainless steel rod production reached $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 43% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Western Africa

In 2022, after two years of growth, there was significant decline in overseas shipments of hot-rolled wire rod in coil of stainless steel, when their volume decreased by -5.5% to X tons. Over the period under review, exports recorded a slight contraction. The growth pace was the most rapid in 2013 with an increase of 842%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod exports reached $X in 2022. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 785%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of hot-rolled wire rod in coil of stainless steel, namely Senegal, represented more than two-thirds of total export.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of hot-rolled wire rod in coil of stainless steel. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest hot-rolled wire stainless steel rod supplier in Western Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled -17.0%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, growing by 6.1% against the previous year. In general, the export price, however, faced a deep downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 137% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to -16.1% per year.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Western Africa

In 2022, the amount of hot-rolled wire rod in coil of stainless steel imported in Western Africa soared to X tons, jumping by 45% against 2021 figures. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 190% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod imports declined slightly to $X in 2022. Over the period under review, imports recorded a pronounced increase. The most prominent rate of growth was recorded in 2014 with an increase of 133%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of hot-rolled wire rod in coil of stainless steel, achieving 81% of total imports. It was distantly followed by Gambia (X tons), making up a 15% share of total imports. Ghana (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the hot-rolled wire rod in coil of stainless steel imports, with a CAGR of +39.5% from 2012 to 2022. At the same time, Gambia (+2.7%) and Ghana (+2.4%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria increased by +69 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported hot-rolled wire rod in coil of stainless steel in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Gambia ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +22.8%. The remaining importing countries recorded the following average annual rates of imports growth: Gambia (-4.2% per year) and Ghana (-9.1% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with a decrease of -32.8% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 38% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (-6.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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