ECOWAS: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ECOWAS

The ECOWAS market for ribbed or other deformed wire rod of non-alloy steel was estimated at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ECOWAS

In value terms, deformed non-alloy steel wire rod production expanded to $X in 2022 estimated in export price. Overall, production showed prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in ECOWAS

In 2022, shipments abroad of ribbed or other deformed wire rod of non-alloy steel increased by X% to X tons for the first time since 2012, thus ending a nine-year declining trend. Over the period under review, exports, however, showed a sharp decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod exports soared to $X in 2022. Overall, exports, however, recorded a abrupt downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso represented the largest exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Ghana (X tons) and Nigeria (X tons), together committing a X% share of total exports.

Burkina Faso was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.), Ghana (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest deformed non-alloy steel wire rod supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with an X% share of total exports.

In Burkina Faso, deformed non-alloy steel wire rod exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, showed mild growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in supplies from abroad of ribbed or other deformed wire rod of non-alloy steel, when their volume decreased by X% to X tons. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod imports shrank rapidly to $X in 2022. Overall, imports recorded a noticeable decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Guinea represented the major importing country with an import of about X tons, which accounted for X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%) and Togo (X%). Burkina Faso (X tons) and Liberia (X tons) held a little share of total imports.

Imports into Guinea increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Cote d'Ivoire (X%), Togo (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Guinea (X p.p.), Cote d'Ivoire (X p.p.), Togo (X p.p.), Burkina Faso (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Guinea ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Guinea, deformed non-alloy steel wire rod imports increased at an average annual rate of X% over the period from 2012-2022. 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 ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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

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

Source: IndexBox Platform

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