Western Africa: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in Western Africa

In 2021, after three years of decline, there was significant growth in the West African metal pickling preparations market, when its value increased by 7.2% to $X. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.6% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Metal Pickling Preparations Production in Western Africa

In value terms, metal pickling preparations production expanded rapidly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.4% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 62%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Metal Pickling Preparations Exports

Exports in Western Africa

In 2021, overseas shipments of pickling preparations for metal surfaces increased by 458% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal pickling preparations exports soared to $X in 2021. Overall, exports posted a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana was the key exporting country with an export of around X tons, which resulted at 55% of total exports. It was distantly followed by Senegal (X tons), Mauritania (X tons) and Gambia (X tons), together constituting a 38% share of total exports. Cote d'Ivoire (X tons) and Mali (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to metal pickling preparations exports from Ghana stood at +15.1%. At the same time, Mauritania (+487.6%), Gambia (+87.5%), Cote d'Ivoire (+13.6%), Senegal (+10.8%) and Mali (+3.9%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +487.6% from 2012-2021. Ghana (+33 p.p.), Mauritania (+15 p.p.), Senegal (+7.8 p.p.), Gambia (+4.9 p.p.) and Cote d'Ivoire (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal pickling preparations supplying countries in Western Africa were Ghana ($X), Gambia ($X) and Senegal ($X), together accounting for 79% of total exports. Mauritania, Cote d'Ivoire and Mali lagged somewhat behind, together accounting for a further 3.2%.

Mauritania, with a CAGR of +204.4%, recorded the highest growth rate of the value of exports, among 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 2021, reducing by -45.4% against the previous year. In general, the export price, however, posted moderate growth. The growth pace was the most rapid in 2019 when the export price increased by 64% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then contracted remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Gambia ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+4.8%), while the other leaders experienced a decline in the export price figures.

Metal Pickling Preparations Imports

Imports in Western Africa

In 2021, supplies from abroad of pickling preparations for metal surfaces increased by 48% to X tons, rising for the fourth year in a row after three years of decline. In general, imports posted resilient growth. The growth pace was the most rapid in 2014 when imports increased by 129% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal pickling preparations imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a pronounced decline. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was near 85% of total imports in 2021. It was distantly followed by Guinea (X tons), mixing up a 5.4% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +10.0% from 2012 to 2021. At the same time, Guinea (+26.6%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.6% from 2012-2021. By contrast, Cote d'Ivoire (-10.7%) illustrated a downward trend over the same period. While the share of Nigeria (+27 p.p.) and Guinea (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-12.5 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported pickling preparations for metal surfaces in Western Africa, comprising 57% of total imports. The second position in the ranking was held by Guinea ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (+27.6% per year) and Cote d'Ivoire (-6.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 11% against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 when the import price increased by 18%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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