Western Africa: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Western Africa

The West African market for tube or pipe fittings (of iron or steel) fell to $X in 2023, reducing by X% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in Western Africa

In value terms, iron or steel tube fitting production totaled $X in 2023 estimated in export price. Over the period under review, production recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports in Western Africa

In 2023, exports of tube or pipe fittings (of iron or steel) in Western Africa soared to X tons, rising by X% compared with 2022 figures. Overall, exports continue to indicate a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel tube fitting exports declined to $X in 2023. In general, exports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana dominates exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X tons), generating a X% share of total exports. Gambia (X tons), Senegal (X tons), Burkina Faso (X tons), Mauritania (X tons) and Niger (X tons) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Niger (X%), Gambia (X%), Mauritania (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana and Gambia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest iron or steel tube fitting supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, 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 Burkina Faso ($X per ton), while Ghana ($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.

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports in Western Africa

In 2023, after two years of growth, there was significant decline in supplies from abroad of tube or pipe fittings (of iron or steel), when their volume decreased by X% to X tons. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports dropped to $X in 2023. Overall, imports saw a mild downturn. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the largest importing country with an import of about X tons, which resulted at X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%) and Cote d'Ivoire (X%). The following importers - Mauritania (X tons), Burkina Faso (X tons) and Guinea (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to iron or steel tube fitting imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%), Senegal (X%) and Mauritania (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Burkina Faso experienced a relatively flat trend pattern. By contrast, Ghana (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal, Cote d'Ivoire and Mauritania increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported tube or pipe fittings (of iron or steel) in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2023, 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 Burkina Faso ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform