Western Africa: Nail And Bolt Market 2025

Nail And Bolt Market Size in Western Africa

The West African nail and bolt market rose modestly to $X in 2021, increasing by 2.3% against the previous year. The market value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Nail And Bolt Production in Western Africa

In value terms, nail and bolt production shrank to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.5% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Nail And Bolt Exports

Exports in Western Africa

Nail and bolt exports declined dramatically to X tons in 2021, which is down by -26.7% against 2020. Over the period under review, exports showed a pronounced slump. The growth pace was the most rapid in 2018 when exports increased by 53% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, nail and bolt exports shrank sharply to $X in 2021. In general, exports saw a noticeable descent. The pace of growth was the most pronounced in 2018 when exports increased by 61%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Benin (X tons) was the main exporter of nails, tacks, staples, screws and bolts, constituting 63% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Togo (X tons), together committing a 33% share of total exports. Senegal (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to nail and bolt exports from Benin stood at +13.9%. At the same time, Ghana (+17.4%) and Senegal (+6.9%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +17.4% from 2012-2021. By contrast, Cote d'Ivoire (-15.1%) and Togo (-15.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Benin and Ghana increased by +47 and +9.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Benin ($X) emerged as the largest nail and bolt supplier in Western Africa, comprising 58% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 17% share of total exports. It was followed by Ghana, with a 6.6% share.

In Benin, nail and bolt exports increased at an average annual rate of +10.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-13.5% per year) and Ghana (-2.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, growing by 7.6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 13%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Nail And Bolt Imports

Imports in Western Africa

After four years of growth, purchases abroad of nails, tacks, staples, screws and bolts decreased by -2% to X tons in 2021. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 21%. Over the period under review, imports reached the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, nail and bolt imports soared to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +34.4% against 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by 35%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly 46% of total imports in 2021. Cote d'Ivoire (X tons) took a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (7%), Benin (6.4%), Burkina Faso (5.9%), Liberia (5.4%) and Senegal (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 56% of total imports.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of +19.6%, recorded the highest growth rate of 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

The import price in Western Africa stood at $X per ton in 2021, rising by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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