Western Africa: Threaded Copper Articles Market 2024

Threaded Copper Articles Market Size in Western Africa

The West African threaded copper articles market rose to $X in 2022, picking up by 1.9% against the previous year. In general, consumption showed a abrupt decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Threaded Copper Articles Production in Western Africa

In value terms, threaded copper articles production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 45%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Threaded Copper Articles Exports

Exports in Western Africa

Threaded copper articles exports plummeted to X kg in 2022, waning by -19% on 2021. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 4,587% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, threaded copper articles exports shrank to $X in 2022. Overall, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 264% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Benin (X kg) was the main exporter of threaded articles of copper, committing 52% of total exports. Niger (X kg) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (17%) and Togo (8%).

Benin was also the fastest-growing in terms of the threaded articles of copper exports, with a CAGR of +50.3% from 2012 to 2022. At the same time, Togo (+24.8%) and Cote d'Ivoire (+11.2%) displayed positive paces of growth. By contrast, Niger (-4.4%) illustrated a downward trend over the same period. While the share of Benin (+50 p.p.), Cote d'Ivoire (+6.7 p.p.) and Togo (+6.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Niger (-37.7 p.p.) displayed negative dynamics.

In value terms, Togo ($X), Benin ($X) and Niger ($X) constituted the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

Togo, with a CAGR of +55.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with an increase of 9.3% against the previous year. Overall, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by 862% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+24.3%), while the other leaders experienced mixed trends in the export price figures.

Threaded Copper Articles Imports

Imports in Western Africa

In 2022, the amount of threaded articles of copper imported in Western Africa declined significantly to X tons, with a decrease of -31.2% on the previous year's figure. In general, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 354% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, threaded copper articles imports shrank to $X in 2022. Over the period under review, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 448%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the major importer of threaded articles of copper in Western Africa, with the volume of imports resulting at X tons, which was approx. 36% of total imports in 2022. Mauritania (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Togo (19%), Senegal (12%) and Guinea (5.5%).

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +33.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported threaded articles of copper in Western Africa, comprising 37% of total imports. The second position in the ranking was held by Senegal ($X), with a 16% share of total imports. It was followed by Mauritania, with a 12% share.

In Nigeria, threaded copper articles imports increased at an average annual rate of +23.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+13.0% per year) and Mauritania (+23.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 33% against the previous year. In general, the import price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2019 an increase of 45% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Togo ($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 (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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