Western Africa - Iron and Non-Alloy Steel in Ingots - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Market for Iron and Non-Alloy Steel in Ingots 2024
Market Size for Iron and Non-Alloy Steel in Ingots in Western Africa
In 2023, the West African market for iron and non-alloy steel in ingots decreased by X% to $X for the first time since 2017, thus ending a five-year rising trend. Over the period under review, consumption continues to indicate a significant increase. Over the period under review, the market reached the peak level at $X in 2022, and then declined modestly in the following year.
Production of Iron and Non-Alloy Steel in Ingots in Western Africa
In value terms, production of iron and non-alloy steel in ingots stood at $X in 2023 estimated in export price. In general, production posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2023, production of growth remained at a somewhat lower figure.
Exports of Iron and Non-Alloy Steel in Ingots
Exports in Western Africa
In 2023, overseas shipments of iron and non-alloy steel in ingots increased by X% to X tons, rising for the fourth year in a row after four years of decline. Overall, exports, however, showed a perceptible decrease. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
In value terms, exports of iron and non-alloy steel in ingots surged to $X in 2023. Over the period under review, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
In 2023, Senegal (X tons) was the main exporter of iron and non-alloy steel in ingots, comprising X% of total exports. It was distantly followed by Togo (X tons), comprising a X% share of total exports.
Senegal was also the fastest-growing in terms of the iron and non-alloy steel in ingots exports, with a CAGR of X% from 2012 to 2023. Togo (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Togo (X p.p.) displayed negative dynamics.
In value terms, Senegal ($X) emerged as the largest iron and non-alloy steel in ingot supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value in Senegal totaled X%.
Export Prices by Country
The export price in Western Africa stood at $X per ton in 2023, growing by X% against the previous year. In general, the export price enjoyed a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%).
Imports of Iron and Non-Alloy Steel in Ingots
Imports in Western Africa
In 2023, imports of iron and non-alloy steel in ingots in Western Africa skyrocketed to X tons, picking up by X% compared with the previous year's figure. In general, imports, however, saw a abrupt setback. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.
In value terms, imports of iron and non-alloy steel in ingots expanded notably to $X in 2023. Over the period under review, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.
Imports by Country
Benin represented the major importer of iron and non-alloy steel in ingots in Western Africa, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Gambia (X tons) took the second position in the ranking, followed by Mali (X tons). All these countries together held approx. X% share of total imports. Nigeria (X tons), Burkina Faso (X tons), Mauritania (X tons) and Cabo Verde (X tons) held a minor share of total imports.
Benin was also the fastest-growing in terms of the iron and non-alloy steel in ingots imports, with a CAGR of X% from 2012 to 2023. At the same time, Mali (X%), Burkina Faso (X%) and Mauritania (X%) displayed positive paces of growth. By contrast, Gambia (X%), Nigeria (X%) and Cabo Verde (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Mali (X p.p.), Gambia (X p.p.), Burkina Faso (X p.p.) and Mauritania (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Benin ($X) constitutes the largest market for imported iron and non-alloy steel in ingots in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Gambia ($X), with an X% share of total imports. It was followed by Mali, with an X% share.
In Benin, imports of iron and non-alloy steel in ingots expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Gambia (X% per year) and Mali (X% per year).
Import Prices by Country
In 2023, the import price in Western Africa amounted to $X per ton, waning by X% against the previous year. Overall, the import price showed a mild decrease. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mali ($X per ton), while Benin ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (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 iron and non-alloy steel in ingot in Western Africa. 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:
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- 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
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- 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