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ECOWAS - Hot-Rolled Non-Alloy Steel Wire Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024
Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in ECOWAS
The ECOWAS market for hot-rolled non-alloy steel wire rods rose sharply to $X in 2023, surging by X% against the previous year. Over the period under review, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.
Production of Hot-Rolled Non-Alloy Steel Wire Rods in ECOWAS
In value terms, hot-rolled non-alloy steel wire rod production expanded notably to $X in 2023 estimated in export price. Over the period under review, production posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.
Exports of Hot-Rolled Non-Alloy Steel Wire Rods
Exports in ECOWAS
For the fourth year in a row, ECOWAS recorded growth in overseas shipments of hot-rolled non-alloy steel wire rods, which increased by X% to X tons in 2023. In general, exports recorded a mild increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is likely to see steady growth in the near future.
In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.
Exports by Country
Ghana (X tons) and Senegal (X tons) were the major exporters of hot-rolled non-alloy steel wire rods in 2023, finishing at approx. X% and X% of total exports, respectively. It was distantly followed by Benin (X tons) and Nigeria (X tons), together mixing up a X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.
In value terms, Ghana ($X), Senegal ($X) and Benin ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. These countries were followed by Nigeria, which accounted for a further X%.
Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then contracted dramatically in the following year.
Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Nigeria ($X per ton) and Benin ($X per ton), while Ghana ($X per ton) and Senegal ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.
Imports of Hot-Rolled Non-Alloy Steel Wire Rods
Imports in ECOWAS
In 2023, the amount of hot-rolled non-alloy steel wire rods imported in ECOWAS fell to X tons, reducing by X% compared with the previous year. Overall, imports saw a slight decrease. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.
In value terms, hot-rolled non-alloy steel wire rod imports reduced rapidly to $X in 2023. In general, imports showed a slight descent. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.
Imports by Country
In 2023, Cote d'Ivoire (X tons) and Senegal (X tons) were the largest importers of hot-rolled non-alloy steel wire rods in ECOWAS, together comprising X% of total imports. Benin (X tons) ranks next in terms of the total imports with an X% share, followed by Burkina Faso (X%), Ghana (X%), Togo (X%) and Guinea (X%).
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X), Senegal ($X) and Benin ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.
In terms of the main importing countries, Cote d'Ivoire, 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
In 2023, the import price in ECOWAS amounted to $X per ton, falling by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then reduced in the following year.
Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Ghana ($X per ton), while Togo ($X per ton) and Benin ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled non-alloy steel wire rod 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy 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
-
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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