Western Africa: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in Western Africa

The West African mill rolling roll market soared to $X in 2022, rising by 19% against the previous year. In general, consumption, however, recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Mill Rolling Roll Production in Western Africa

In value terms, mill rolling roll production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 3.8% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Mill Rolling Roll Exports

Exports in Western Africa

Mill rolling roll exports reduced sharply to X units in 2022, waning by -84.8% on the year before. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 725% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, mill rolling roll exports fell dramatically to $X in 2022. Overall, exports recorded a mild descent. The growth pace was the most rapid in 2021 when exports increased by 613%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Sierra Leone (X units) represented the key exporter of rolls for rolling mills in Western Africa, creating 100% of total export.

Sierra Leone was also the fastest-growing in terms of the rolls for rolling mills exports, with a CAGR of -6.7% from 2012 to 2022. Sierra Leone (+9.1 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, Sierra Leone ($X) also remains the largest mill rolling roll supplier in Western Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone stood at +1.3%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, rising by 302% against the previous year. Overall, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 366%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Sierra Leone.

From 2012 to 2022, the rate of growth in terms of prices for Sierra Leone amounted to +8.6% per year.

Mill Rolling Roll Imports

Imports in Western Africa

In 2022, mill rolling roll imports in Western Africa skyrocketed to X units, growing by 33% compared with the previous year's figure. Over the period under review, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 175% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, mill rolling roll imports stood at $X in 2022. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 119%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X units) was the largest importer of rolls for rolling mills, constituting 61% of total imports. Ghana (X units) took the second position in the ranking, followed by Guinea (X units), Cote d'Ivoire (X units) and Mauritania (X units). All these countries together held near 29% share of total imports. The following importers - Mali (X units) and Senegal (X units) - each resulted at a 5.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to mill rolling roll imports into Nigeria stood at -7.8%. At the same time, Mauritania (+50.7%), Guinea (+36.7%), Mali (+15.4%) and Cote d'Ivoire (+5.6%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +50.7% from 2012-2022. By contrast, Senegal (-10.1%) and Ghana (-10.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guinea, Mauritania, Cote d'Ivoire and Mali increased by +5.9, +5.3, +3.7 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported rolls for rolling mills in Western Africa, comprising 49% of total imports. The second position in the ranking was held by Ghana ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at -7.9%. In the other countries, the average annual rates were as follows: Ghana (-21.1% per year) and Cote d'Ivoire (-4.2% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, shrinking by -16.5% against the previous year. Overall, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2016 when the import price increased by 61%. Over the period under review, import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+41.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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