Western Africa: Steel Sheet Piling Market 2024

Steel Sheet Piling Market Size in Western Africa

The West African steel sheet piling market expanded slightly to $X in 2022, rising by 2.9% against the previous year. In general, consumption saw a pronounced slump. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Steel Sheet Piling Production in Western Africa

In value terms, steel sheet piling production soared to $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 204%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Steel Sheet Piling Exports

Exports in Western Africa

Steel sheet piling exports soared to X tons in 2022, growing by 24% on the previous year's figure. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 73%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, steel sheet piling exports amounted to $X in 2022. Over the period under review, exports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 61%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) represented the key exporter of sheet piling of steel, committing 65% of total exports. Ghana (X tons) took a 28% share (based on physical terms) of total exports, which put it in second place, followed by Benin (5.3%).

Nigeria was also the fastest-growing in terms of the sheet piling of steel exports, with a CAGR of +21.8% from 2012 to 2022. At the same time, Benin (+16.8%) displayed positive paces of growth. By contrast, Ghana (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Benin increased by +58 and +5.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Ghana, with a CAGR of -4.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by -14.7% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2020 an increase of 39% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-1.6%), while the other leaders experienced a decline in the export price figures.

Steel Sheet Piling Imports

Imports in Western Africa

In 2022, supplies from abroad of sheet piling of steel decreased by -1.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 85%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, steel sheet piling imports reached $X in 2022. In general, imports saw a noticeable decline. The growth pace was the most rapid in 2013 with an increase of 52% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the key importing country with an import of around X tons, which accounted for 51% of total imports. Sierra Leone (X tons) held the second position in the ranking, followed by Cote d'Ivoire (X tons), Benin (X tons) and Ghana (X tons). All these countries together took near 38% share of total imports. The following importers - Senegal (X tons), Niger (X tons) and Burkina Faso (X tons) - together made up 9.1% of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of sheet piling of steel. At the same time, Niger (+79.5%), Benin (+54.0%), Senegal (+28.8%), Ghana (+24.0%), Cote d'Ivoire (+10.2%) and Burkina Faso (+9.2%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +79.5% from 2012-2022. By contrast, Sierra Leone (-4.7%) illustrated a downward trend over the same period. While the share of Benin (+8.5 p.p.), Cote d'Ivoire (+6.8 p.p.), Ghana (+4.8 p.p.), Senegal (+4 p.p.) and Niger (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sierra Leone (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported sheet piling of steel in Western Africa, comprising 44% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 21% share of total imports. It was followed by Sierra Leone, with an 11% share.

In Nigeria, steel sheet piling imports shrank by an average annual rate of -3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+19.2% per year) and Sierra Leone (-12.0% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, picking up by 5.6% against the previous year. Over the period under review, the import price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :