ECOWAS - Forged Bars of Stainless Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Forged Bars Of Stainless Steel 2024
Market Size for Forged Bars Of Stainless Steel in ECOWAS
The ECOWAS forged stainless steel bar market stood at $X in 2023, approximately reflecting the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.
Production of Forged Bars Of Stainless Steel in ECOWAS
In value terms, forged stainless steel bar production expanded sharply to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.
Exports of Forged Bars Of Stainless Steel
Exports in ECOWAS
In 2023, shipments abroad of forged bars of stainless steel was finally on the rise to reach X tons after three years of decline. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports failed to regain momentum.
In value terms, forged stainless steel bar exports skyrocketed to $X in 2023. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Cote d'Ivoire was the major exporter of forged bars of stainless steel in ECOWAS, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Senegal (X tons), mixing up a X% share of total exports. Gambia (X tons) took a relatively small share of total exports.
From 2012 to 2023, average annual rates of growth with regard to forged stainless steel bar exports from Cote d'Ivoire stood at X%. At the same time, Senegal (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Cote d'Ivoire ($X) remains the largest forged stainless steel bar supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.
From 2012 to 2023, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Gambia (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the export price figures.
Imports of Forged Bars Of Stainless Steel
Imports in ECOWAS
In 2023, purchases abroad of forged bars of stainless steel was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, forged stainless steel bar imports shrank to $X in 2023. Over the period under review, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Gambia dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. It was distantly followed by Ghana (X tons) and Nigeria (X tons), together comprising an X% share of total imports. The following importers - Cote d'Ivoire (X tons), Guinea (X tons) and Niger (X tons) - together made up X% of total imports.
From 2012 to 2023, average annual rates of growth with regard to forged stainless steel bar imports into Gambia stood at X%. At the same time, Cote d'Ivoire (X%), Niger (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Ghana experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Gambia, Ghana, Cote d'Ivoire, Guinea and Niger increased by X, X, X, X and X percentage points, respectively.
In value terms, Gambia ($X) constitutes the largest market for imported forged bars of stainless steel in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Ghana, with a X% share.
From 2012 to 2023, the average annual growth rate of value in Gambia stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Ghana (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced mixed trends in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for forged stainless steel bar in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24106450 - Forged bars, of stainless steel
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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