Western Africa: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Western Africa

The West African steel stranded wire market fell to $X in 2022, waning by -3.3% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.4% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production in Western Africa

In value terms, steel stranded wire production reduced modestly to $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 79%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Steel Stranded Wire Exports

Exports in Western Africa

Steel stranded wire exports reduced notably to X tons in 2022, with a decrease of -40% on the year before. In general, exports, however, continue to indicate a moderate increase. The growth pace was the most rapid in 2021 with an increase of 133%. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, steel stranded wire exports reduced to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 47% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Sierra Leone (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together creating 84% of total exports. The following exporters - Gambia (X tons), Ghana (X tons), Guinea (X tons), Senegal (X tons) and Togo (X tons) - each resulted at a 9.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +66.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) emerged as the largest steel stranded wire supplier in Western Africa, comprising 58% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 28% share of total exports. It was followed by Ghana, with a 3.1% share.

In Sierra Leone, steel stranded wire exports expanded at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+53.4% per year) and Ghana (-2.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, rising by 42% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+2.6%), while the other leaders experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports in Western Africa

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were imported in Western Africa; approximately reflecting 2021 figures. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, steel stranded wire imports dropped to $X in 2022. Overall, imports enjoyed a temperate increase. The pace of growth was the most pronounced in 2016 with an increase of 74%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Guinea (X tons) and Liberia (X tons) were the largest importers of iron or steel stranded wire, ropes and cables, together comprising 88% of total imports. Mali (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Liberia (with a CAGR of +22.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, with a combined 61% share of total imports. Senegal, Guinea, Liberia and Mali lagged somewhat behind, together comprising a further 29%.

Liberia, with a CAGR of +22.3%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Western Africa stood at $X per ton in 2022, dropping by -15% against the previous year. Over the period under review, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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