Western Africa: Tap And Valve Market 2024

Tap And Valve Exports

Exports in Western Africa

In 2022, approx. X tons of taps, cocks, valves and similar appliances were exported in Western Africa; growing by 22% against the year before. In general, exports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2014 with an increase of 86%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports soared to $X in 2022. Overall, exports, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2014 with an increase of 45%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria represented the main exporting country with an export of around X tons, which recorded 43% of total exports. Cote d'Ivoire (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Senegal (X tons), Mali (X tons) and Sierra Leone (X tons). All these countries together took approx. 43% share of total exports. Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tap and valve exports from Nigeria stood at -3.4%. At the same time, Benin (+35.3%), Cote d'Ivoire (+7.0%), Mali (+5.4%), Sierra Leone (+1.7%) and Senegal (+1.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +35.3% from 2012-2022. By contrast, Ghana (-19.4%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+12 p.p.), Nigeria (+5.4 p.p.), Benin (+4 p.p.), Mali (+3.9 p.p.), Sierra Leone (+2.8 p.p.) and Senegal (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-34.1 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest tap and valve supplier in Western Africa, comprising 36% of total exports. The second position in the ranking was held by Ghana ($X), with a 17% share of total exports. It was followed by Cote d'Ivoire, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to -2.1%. In the other countries, the average annual rates were as follows: Ghana (-9.5% per year) and Cote d'Ivoire (+2.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with a decrease of -4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2013 when the export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Mali ($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 (+12.3%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in Western Africa

In 2022, approx. X tons of taps, cocks, valves and similar appliances were imported in Western Africa; picking up by 65% against 2021 figures. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 191% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, tap and valve imports skyrocketed to $X in 2022. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 71%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was near 90% of total imports in 2022. The following importers - Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) - each amounted to a 5.8% share of total imports.

Nigeria was also the fastest-growing in terms of the taps, cocks, valves and similar appliances imports, with a CAGR of +21.8% from 2012 to 2022. At the same time, Senegal (+12.8%), Cote d'Ivoire (+8.7%) and Ghana (+1.9%) displayed positive paces of growth. While the share of Nigeria (+17 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-2.9 p.p.) and Ghana (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported taps, cocks, valves and similar appliances in Western Africa, comprising 81% of total imports. The second position in the ranking was held by Ghana ($X), with a 4.3% share of total imports. It was followed by Cote d'Ivoire, with a 4.1% share.

In Nigeria, tap and valve imports increased at an average annual rate of +18.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+0.2% per year) and Cote d'Ivoire (+9.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price saw a perceptible slump. The pace of growth appeared the most rapid in 2014 when the import price increased by 104%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a 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 ($X per ton), while Nigeria ($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 (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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