ECOWAS: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in ECOWAS

The ECOWAS stainless steel angle market fell to $X in 2022, with a decrease of X% against the previous year. In general, consumption showed a noticeable shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Stainless Steel Angle Production in ECOWAS

In value terms, stainless steel angle production rose slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Stainless Steel Angle Exports

Exports in ECOWAS

In 2022, overseas shipments of angles, shapes and sections of stainless steel or other alloy steel were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, stainless steel angle exports skyrocketed to $X in 2022. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the major exporter of angles, shapes and sections of stainless steel or other alloy steel in ECOWAS, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Burkina Faso (X tons). All these countries together held near X% share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Burkina Faso experienced a relatively flat trend pattern. From 2012 to 2022, the share of Burkina Faso and Cote d'Ivoire increased by X and X percentage points, respectively.

In value terms, Burkina Faso ($X) emerged as the largest stainless steel angle supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Burkina Faso was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, recorded a temperate increase. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Stainless Steel Angle Imports

Imports in ECOWAS

In 2022, stainless steel angle imports in ECOWAS shrank rapidly to X tons, dropping by X% compared with the year before. Overall, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, stainless steel angle imports contracted sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of stainless steel angle imports in 2022 were Ghana (X tons), Nigeria (X tons), Togo (X tons), Gambia (X tons), Niger (X tons) and Senegal (X tons), together amounting to X% of total import. It was distantly followed by Guinea (X tons), committing a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Niger (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest stainless steel angle importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Gambia ($X), together comprising X% of total imports.

Gambia, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Overall, the import price saw resilient growth. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, 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 Guinea ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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