Western Africa: Metal Cutting Shear Market 2024

Metal Cutting Shear Market Size in Western Africa

The West African metal cutting shear market amounted to $X in 2022, growing by 2.1% against the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Cutting Shear Production in Western Africa

In value terms, metal cutting shear production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Metal Cutting Shear Exports

Exports in Western Africa

After two years of growth, shipments abroad of metal cutting shears and similar hand tools decreased by -30.9% to X tons in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 709% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal cutting shear exports shrank significantly to $X in 2022. Over the period under review, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2015 when exports increased by 625% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mali dominates exports structure, accounting for X tons, which was near 91% of total exports in 2022. The following exporters - Cote d'Ivoire (X kg) and Ghana (X kg) - together made up 6.8% of total exports.

Exports from Mali increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Cote d'Ivoire (+22.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.9% from 2012-2022. By contrast, Ghana (-7.8%) illustrated a downward trend over the same period. Mali (+48 p.p.) and Cote d'Ivoire (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -3.1% from 2012 to 2022, respectively.

In value terms, Mali ($X) remains the largest metal cutting shear supplier in Western Africa, comprising 77% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mali was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+14.1% per year) and Ghana (-14.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, declining by -14.9% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by 91% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Mali ($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 (-6.8%), while the other leaders experienced a decline in the export price figures.

Metal Cutting Shear Imports

Imports in Western Africa

In 2022, purchases abroad of metal cutting shears and similar hand tools decreased by -1.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 156%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, metal cutting shear imports shrank to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 209%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of metal cutting shears and similar hand tools, namely Ghana, Benin and Nigeria, represented more than two-thirds of total import. It was distantly followed by Cote d'Ivoire (X tons), generating a 6% share of total imports. The following importers - Senegal (X tons) and Burkina Faso (X tons) - together made up 5.2% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of +62.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Benin ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 80% share of total imports.

Benin, with a CAGR of +61.1%, recorded 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

In 2022, the import price in Western Africa amounted to $X per ton, reducing by -6.5% against the previous year. Over the period under review, the import price, however, recorded a buoyant increase. The growth pace was the most rapid in 2019 when the import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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