Western Africa: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in Western Africa

In 2021, the West African threaded metal articles market increased by 10% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Threaded Metal Articles Production in Western Africa

In value terms, threaded metal articles production shrank significantly to $X in 2021 estimated in export price. In general, production showed a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Threaded Metal Articles Exports

Exports in Western Africa

In 2021, exports of threaded articles of iron or steel in Western Africa amounted to X tons, flattening at the previous year's figure. In general, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 with an increase of 225% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, threaded metal articles exports fell significantly to $X in 2021. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 272% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Niger (X tons), distantly followed by Sierra Leone (X tons), Nigeria (X tons), Senegal (X tons), Mali (X tons), Cote d'Ivoire (X tons) and Mauritania (X tons) were the major exporters of threaded articles of iron or steel, together making up 91% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mauritania (with a CAGR of +49.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest threaded metal articles supplier in Western Africa, comprising 37% of total exports. The second position in the ranking was taken by Senegal ($X), with an 11% share of total exports. It was followed by Sierra Leone, with a 9.5% share.

In Cote d'Ivoire, threaded metal articles exports plunged by an average annual rate of -2.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (-13.4% per year) and Sierra Leone (-20.2% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, falling by -26.4% against the previous year. Overall, the export price, however, continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2020 an increase of 160% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, 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 Cote d'Ivoire ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+12.8%), while the other leaders experienced more modest paces of growth.

Threaded Metal Articles Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of threaded articles of iron or steel, which increased by 25% to X tons in 2021. Over the period under review, imports saw a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 223%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, threaded metal articles imports surged to $X in 2021. In general, imports continue to indicate moderate growth. The pace of growth appeared the most rapid in 2017 with an increase of 205% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X tons), Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) was the main importer of threaded articles of iron or steel in Western Africa, generating 79% of total import. Mauritania (X tons), Benin (X tons), Burkina Faso (X tons), Guinea (X tons) and Togo (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest threaded metal articles importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 69% share of total imports. These countries were followed by Benin, Senegal, Burkina Faso, Togo, Mauritania and Guinea, which together accounted for a further 22%.

Togo, with a CAGR of +22.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, picking up by 9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2015 when the import price increased by 35% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+24.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :