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Report ECOWAS - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in ECOWAS

In 2022, the ECOWAS iron and steel wire market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a noticeable shrinkage. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Iron and Steel Wire in ECOWAS

In value terms, iron and steel wire production stood at $X in 2022 estimated in export price. In general, production saw a significant increase. The most prominent rate of growth was recorded in 2013 when the production volume decreased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then totaled in the following year.

Exports of Iron and Steel Wire

Exports in ECOWAS

In 2022, overseas shipments of iron and steel wire were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a pronounced contraction. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports soared to $X in 2022. Over the period under review, exports, however, saw a noticeable slump. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Togo (X tons) and Burkina Faso (X tons), together achieving a X% share of total exports. Nigeria (X tons), Senegal (X tons) and Benin (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Togo ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports in ECOWAS

In 2022, supplies from abroad of iron and steel wire was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron and steel wire imports skyrocketed to $X in 2022. Overall, imports, however, saw a drastic downturn. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire (X tons), Burkina Faso (X tons), Senegal (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Benin (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Niger (X%) and Togo (X%).

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

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Benin ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, Benin, with a CAGR of X%, recorded the highest growth rate of 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

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the 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 Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Ghana constituted the country with the largest volume of iron and steel wire consumption, comprising approx. 32% of total volume. Moreover, iron and steel wire consumption in Ghana exceeded the figures recorded by the second-largest consumer, Senegal, twofold. The third position in this ranking was held by Cote d'Ivoire, with an 11% share.
Ghana remains the largest iron and steel wire producing country in ECOWAS, comprising approx. 52% of total volume. Moreover, iron and steel wire production in Ghana exceeded the figures recorded by the second-largest producer, Senegal, fourfold. Niger ranked third in terms of total production with a 9.2% share.
In value terms, Cote d'Ivoire, Togo and Burkina Faso were the countries with the highest levels of exports in 2022, with a combined 94% share of total exports.
In value terms, the largest iron and steel wire importing markets in ECOWAS were Cote d'Ivoire, Nigeria and Benin, with a combined 64% share of total imports.
The export price in ECOWAS stood at $1,038 per ton in 2022, growing by 12% against the previous year.
In 2022, the import price in ECOWAS amounted to $861 per ton, picking up by 26% against the previous year.

This report provides an in-depth analysis of the market for iron and steel wire 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 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
  • Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
  • Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
  • Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
  • Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless steel)

Country coverage:

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 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

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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