Western Africa: Metal Wool Market 2025

Metal Wool Market Size in Western Africa

The West African metal wool market expanded markedly to $X in 2022, increasing by 13% against the previous year. In general, consumption, however, recorded a pronounced decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Metal Wool Production in Western Africa

In value terms, metal wool production fell to $X in 2022 estimated in export price. In general, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 107% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Metal Wool Exports

Exports in Western Africa

Metal wool exports fell markedly to X tons in 2022, dropping by -27.7% against the previous year's figure. In general, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2015 when exports increased by 1,374% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports shrank slightly to $X in 2022. Overall, exports, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 1,392% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo prevails in exports structure, recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Ghana (X tons), constituting a 9.1% share of total exports. Nigeria (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the iron or steel wool exports, with a CAGR of +36.5% from 2012 to 2022. At the same time, Ghana (+16.8%) displayed positive paces of growth. By contrast, Nigeria (-15.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo and Ghana increased by +87 and +4.5 percentage points, respectively.

In value terms, Togo ($X) remains the largest metal wool supplier in Western Africa, comprising 91% of total exports. The second position in the ranking was taken by Ghana ($X), with a 5.3% share of total exports.

In Togo, metal wool exports increased at an average annual rate of +49.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+4.7% per year) and Nigeria (-19.6% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, jumping by 34% against the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 91% against the previous year. Over the period under review, the export prices attained 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 Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+9.4%), while the other leaders experienced a decline in the export price figures.

Metal Wool Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded growth in overseas purchases of iron or steel wool, which increased by 7% to X tons in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 369% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal wool imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 521% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Burkina Faso was the key importer of iron or steel wool in Western Africa, with the volume of imports accounting for X tons, which was approx. 52% of total imports in 2022. Ghana (X tons) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (8.9%). The following importers - Cote d'Ivoire (X tons), Guinea (X tons) and Mauritania (X tons) - each amounted to a 6.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Burkina Faso (with a CAGR of +43.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported iron or steel wool in Western Africa, comprising 63% of total imports. The second position in the ranking was held by Burkina Faso ($X), with an 8.5% share of total imports. It was followed by Nigeria, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled +22.6%. In the other countries, the average annual rates were as follows: Burkina Faso (+41.3% per year) and Nigeria (-20.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, increasing by 19% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 63%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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