Western Africa: Non-Alloy Aluminium Bar Market 2024

Non-Alloy Aluminium Bar Market Size in Western Africa

The West African non-alloy aluminium bar market rose slightly to $X in 2021, with an increase of 3.3% against the previous year. Overall, consumption, however, recorded a noticeable descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Non-Alloy Aluminium Bar Production in Western Africa

In value terms, non-alloy aluminium bar production surged to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 37%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Non-Alloy Aluminium Bar Exports

Exports in Western Africa

Non-alloy aluminium bar exports soared to X tons in 2021, rising by 221% on 2020. Overall, exports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 901%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-alloy aluminium bar exports skyrocketed to $X in 2021. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,928% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Ghana (X tons) was the major exporter of non-alloy aluminium bars, rods and profiles, generating 66% of total exports. It was distantly followed by Liberia (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together constituting a 26% share of total exports. Togo (X tons) and Sierra Leone (X tons) took a minor share of total exports.

Exports from Ghana increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Liberia (+294.5%), Cote d'Ivoire (+75.2%), Senegal (+67.1%), Sierra Leone (+49.7%) and Togo (+13.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +294.5% from 2012-2021. While the share of Liberia (+16 p.p.), Senegal (+5.5 p.p.), Cote d'Ivoire (+4.5 p.p.) and Sierra Leone (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-22.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest non-alloy aluminium bar supplier in Western Africa, comprising 63% of total exports. The second position in the ranking was taken by Liberia ($X), with a 16% share of total exports. It was followed by Senegal, with a 7.7% share.

In Ghana, non-alloy aluminium bar exports expanded at an average annual rate of +7.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Liberia (+200.7% per year) and Senegal (+46.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, dropping by -4.6% against the previous year. Over the period under review, the export price showed a perceptible setback. The growth pace was the most rapid in 2013 when the export price increased by 103%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Sierra Leone ($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 (+0.2%), while the other leaders experienced a decline in the export price figures.

Non-Alloy Aluminium Bar Imports

Imports in Western Africa

In 2021, purchases abroad of non-alloy aluminium bars, rods and profiles decreased by -49.4% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 222% against the previous year. The volume of import peaked at X tons in 2020, and then fell sharply in the following year.

In value terms, non-alloy aluminium bar imports reduced to $X in 2021. Over the period under review, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 160%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons) represented the main importer of non-alloy aluminium bars, rods and profiles, committing 71% of total imports. It was distantly followed by Benin (X tons), creating an 18% share of total imports. The following importers - Cote d'Ivoire (X tons), Ghana (X tons) and Cabo Verde (X tons) - each finished at a 5.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-alloy aluminium bar imports into Nigeria stood at +26.6%. At the same time, Benin (+65.5%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +65.5% from 2012-2021. Cabo Verde experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-4.8%) and Ghana (-20.8%) illustrated a downward trend over the same period. While the share of Nigeria (+49 p.p.) and Benin (+17 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cabo Verde (-2.4 p.p.), Cote d'Ivoire (-6.6 p.p.) and Ghana (-40.3 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported non-alloy aluminium bars, rods and profiles in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Benin ($X), with a 12% share of total imports. It was followed by Cabo Verde, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +23.6%. The remaining importing countries recorded the following average annual rates of imports growth: Benin (+50.0% per year) and Cabo Verde (+4.8% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, increasing by 75% against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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 Cabo Verde ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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