Western Africa: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Western Africa

The West African market for line pipe of steel other than stainless steel for oil or gas pipelines reached $X in 2022, flattening at the previous year. Over the period under review, consumption continues to indicate a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in Western Africa

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines reduced to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The growth pace was the most rapid in 2021 when the production volume increased by 42% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports in Western Africa

In 2022, the amount of line pipe of steel other than stainless steel for oil or gas pipelines exported in Western Africa reduced remarkably to X tons, falling by -19.9% compared with 2021. In general, exports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 961%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines dropped notably to $X in 2022. Over the period under review, exports, however, recorded a temperate increase. The growth pace was the most rapid in 2018 when exports increased by 480%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) and Nigeria (X tons) dominates pipelines structure, together constituting 85% of total exports. Ghana (X tons) held a 5.7% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (5.6%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Togo (with a CAGR of +25.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest line pipe of steel other than stainless steel for oil or gas pipelines supplying countries in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X), with a combined 94% share of total exports. Ghana and Togo lagged somewhat behind, together accounting for a further 5%.

Ghana, with a CAGR of +10.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 2022, approximately mirroring the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 351% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports in Western Africa

In 2022, overseas purchases of line pipe of steel other than stainless steel for oil or gas pipelines increased by 26% to X tons, rising for the fourth year in a row after two years of decline. In general, imports showed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 164%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines surged to $X in 2022. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 171%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Nigeria prevails in pipelines structure, resulting at X tons, which was near 81% of total imports in 2022. Niger (X tons) held a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (4.5%). The following importers - Ghana (X tons) and Benin (X tons) - together made up 4.5% of total imports.

Imports into Nigeria increased at an average annual rate of +11.3% from 2012 to 2022. At the same time, Benin (+73.5%) and Cote d'Ivoire (+12.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +73.5% from 2012-2022. Niger experienced a relatively flat trend pattern. By contrast, Ghana (-1.4%) illustrated a downward trend over the same period. Niger (+7.6 p.p.) and Benin (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported line pipe of steel other than stainless steel for oil or gas pipelines in Western Africa, comprising 74% of total imports. The second position in the ranking was taken by Niger ($X), with a 16% share of total imports. It was followed by Cote d'Ivoire, with a 3.4% share.

In Nigeria, imports of line pipe of steel other than stainless steel for oil or gas pipelines increased at an average annual rate of +10.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (0.0% per year) and Cote d'Ivoire (+1.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by 23% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 71%. The level of import peaked at $X per ton in 2015; however, from 2016 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 Niger ($X per ton), while Benin ($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 (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform