Western Africa: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2025

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Western Africa

In 2021, the West African market for ribbed or other deformed wire rod of non-alloy steel decreased by -6.4% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, posted resilient growth. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Western Africa

In value terms, deformed non-alloy steel wire rod production contracted to $X in 2021 estimated in export price. Overall, production, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 57%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in Western Africa

Deformed non-alloy steel wire rod exports reduced rapidly to X tons in 2021, dropping by -20.6% against the previous year. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2019 with an increase of 11%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, deformed non-alloy steel wire rod exports shrank to $X in 2021. In general, exports saw a precipitous contraction. The smallest decline of -2.3% was in 2019. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, accounting for X tons, which was near 89% of total exports in 2021. Ghana (X kg) took the second position in the ranking, followed by Burkina Faso (X kg). All these countries together took approx. 11% share of total exports.

Nigeria was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel exports, with a CAGR of -14.3% from 2012 to 2021. Burkina Faso (-33.1%) and Ghana (-38.5%) illustrated a downward trend over the same period. While the share of Nigeria (+86 p.p.), Burkina Faso (+4.2 p.p.) and Ghana (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest deformed non-alloy steel wire rod supplier in Western Africa, comprising 82% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to -10.2%. In the other countries, the average annual rates were as follows: Burkina Faso (-26.9% per year) and Ghana (-37.8% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 44% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+9.3%), while the other leaders experienced more modest paces of growth.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in Western Africa

In 2021, overseas purchases of ribbed or other deformed wire rod of non-alloy steel increased by 71% to X tons, rising for the third consecutive year after five years of decline. Overall, imports, however, continue to indicate a deep reduction. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod imports soared to $X in 2021. In general, imports, however, saw a pronounced reduction. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Guinea (X tons) was the largest importer of ribbed or other deformed wire rod of non-alloy steel, comprising 45% of total imports. It was distantly followed by Senegal (X tons), Cote d'Ivoire (X tons), Benin (X tons) and Ghana (X tons), together mixing up a 45% share of total imports. Togo (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to deformed non-alloy steel wire rod imports into Guinea stood at +15.1%. At the same time, Cote d'Ivoire (+41.0%), Togo (+34.2%) and Cabo Verde (+12.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +41.0% from 2012-2021. Benin experienced a relatively flat trend pattern. By contrast, Senegal (-1.7%) and Ghana (-25.9%) illustrated a downward trend over the same period. While the share of Guinea (+37 p.p.), Cote d'Ivoire (+11 p.p.), Senegal (+5 p.p.), Togo (+3.8 p.p.), Benin (+3.8 p.p.) and Cabo Verde (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-62.6 p.p.) displayed negative dynamics.

In value terms, Guinea ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in Western Africa, comprising 42% of total imports. The second position in the ranking was taken by Senegal ($X), with an 18% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

In Guinea, deformed non-alloy steel wire rod imports increased at an average annual rate of +19.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (-0.1% per year) and Cote d'Ivoire (+43.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, picking up by 21% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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