Western Africa: Metal Link Chain Market 2024

Metal Link Chain Market Size in Western Africa

The West African metal link chain market fell slightly to $X in 2021, almost unchanged from the previous year. In general, consumption saw a pronounced curtailment. The growth pace was the most rapid in 2017 when the market value increased by 9.5% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Metal Link Chain Production in Western Africa

In value terms, metal link chain production totaled $X in 2021 estimated in export price. Overall, production, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 9% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Metal Link Chain Exports

Exports in Western Africa

In 2021, shipments abroad of iron or steel articulated link chain decreased by -40.7% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 250%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal link chain exports reduced dramatically to $X in 2021. Over the period under review, exports saw a slight setback. The pace of growth was the most pronounced in 2018 when exports increased by 245% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guinea (X tons), Nigeria (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Cabo Verde (X tons), Benin (X tons) and Ghana (X tons) represented roughly 93% of total exports in 2021. It was distantly followed by Niger (X kg), generating a 4.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Guinea (with a CAGR of +29.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest metal link chain supplying countries in Western Africa were Senegal ($X), Cabo Verde ($X) and Nigeria ($X), together accounting for 57% of total exports. These countries were followed by Niger, Ghana, Cote d'Ivoire, Benin and Guinea, which together accounted for a further 35%.

Among the main exporting countries, Niger, with a CAGR of +29.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, surging by 24% against the previous year. Export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal link chain export price increased by +88.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 43%. The level of export peaked in 2021 and is expected to retain 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 Niger ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+22.9%), while the other leaders experienced more modest paces of growth.

Metal Link Chain Imports

Imports in Western Africa

In 2021, after two years of growth, there was significant decline in overseas purchases of iron or steel articulated link chain, when their volume decreased by -19.8% to X tons. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then dropped notably in the following year.

In value terms, metal link chain imports contracted notably to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 52% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ghana (X tons) represented the key importer of iron or steel articulated link chain, committing 49% of total imports. It was distantly followed by Nigeria (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons), together making up a 40% share of total imports. Senegal (X tons), Mauritania (X tons) and Liberia (X tons) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of +26.0% from 2012 to 2021. At the same time, Burkina Faso (+35.4%), Liberia (+17.9%), Cote d'Ivoire (+13.0%) and Senegal (+2.4%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +35.4% from 2012-2021. Mauritania experienced a relatively flat trend pattern. By contrast, Nigeria (-5.2%) illustrated a downward trend over the same period. While the share of Ghana (+39 p.p.), Burkina Faso (+9.3 p.p.) and Cote d'Ivoire (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-42.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 76% share of total imports. Burkina Faso, Senegal, Mauritania and Liberia lagged somewhat behind, together comprising a further 17%.

Liberia, with a CAGR of +19.4%, saw the highest growth rate of 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, which is down by -6% against the previous year. In general, the import price showed a perceptible descent. The growth pace was the most rapid in 2013 an increase of 27% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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