Western Africa: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Western Africa

In 2022, the West African stainless steel seamless pipe market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Western Africa

In value terms, stainless steel seamless pipe production totaled $X in 2022 estimated in export price. In general, production, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports in Western Africa

In 2022, exports of stainless steel seamless pipe for oil and gas in Western Africa contracted rapidly to X tons, dropping by X% on 2021 figures. In general, exports faced a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports reduced dramatically to $X in 2022. Overall, exports recorded a sharp curtailment. The growth pace was the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the largest exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Nigeria (X tons), making up a X% share of total exports.

Ghana was also the fastest-growing in terms of the stainless steel seamless pipe for oil and gas exports, with a CAGR of X% from 2012 to 2022. Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest stainless steel seamless pipe supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a sharp contraction. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports in Western Africa

In 2022, stainless steel seamless pipe imports in Western Africa dropped remarkably to X tons, shrinking by X% against 2021. Overall, imports continue to indicate a deep setback. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, stainless steel seamless pipe imports shrank remarkably to $X in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of stainless steel seamless pipe for oil and gas, namely Togo, Nigeria, Cote d'Ivoire, Niger and Ghana, represented more than two-thirds of total import. Mauritania (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%) and Burkina Faso (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Nigeria, Senegal, Togo, Burkina Faso and Mauritania lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, showed buoyant growth. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

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 Niger ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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