Western Africa: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in Western Africa

The West African market for iron or steel wire products fell sharply to $X in 2022, reducing by X% against the previous year. In general, consumption, however, continues to indicate a temperate increase. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

Production of Iron or Steel Wire Products in Western Africa

In value terms, iron or steel wire product production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports in Western Africa

In 2022, the amount of iron or steel wire products exported in Western Africa surged to X tons, growing by X% against 2021. In general, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel wire product exports skyrocketed to $X in 2022. Overall, exports posted slight growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Burkina Faso (X tons), comprising a X% share of total exports. Senegal (X tons) held a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the iron or steel wire products exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Burkina Faso experienced a relatively flat trend pattern. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Burkina Faso saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest iron or steel wire product supplying countries in Western Africa were Cote d'Ivoire ($X), Burkina Faso ($X) and Senegal ($X), together accounting for X% of total exports.

Cote d'Ivoire, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

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

Imports of Iron or Steel Wire Products

Imports in Western Africa

In 2022, purchases abroad of iron or steel wire products decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, iron or steel wire product imports dropped sharply to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, Nigeria (X tons), followed by Senegal (X tons), Ghana (X tons), Liberia (X tons), Guinea (X tons), Burkina Faso (X tons), Mali (X tons), Togo (X tons) and Mauritania (X tons) were the main importers of iron or steel wire products, together comprising X% 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 Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal, Guinea, Mali, Mauritania, Burkina Faso and Togo lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, showed a noticeable shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood 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 Liberia ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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