Western Africa: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Western Africa

The West African hollow drill bar market soared to $X in 2022, rising by X% against the previous year. In general, consumption, however, faced a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Hollow Drill Bar Production in Western Africa

In value terms, hollow drill bar production contracted to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Hollow Drill Bar Exports

Exports in Western Africa

In 2022, exports of hollow drill bars and rods in Western Africa skyrocketed to X tons, rising by X% compared with the previous year. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, hollow drill bar exports surged to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Burkina Faso (X tons) and Cote d'Ivoire (X tons) were the major exporters of hollow drill bars and rods in Western Africa, together constituting X% of total exports. Ghana (X tons) ranks next in terms of the total exports with a X% share, followed by Mali (X%). Senegal (X tons) held a relatively small share of total exports.

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

In value terms, Burkina Faso ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Burkina Faso, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Western Africa amounted to $X per ton, which is down by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced mixed trends in the export price figures.

Hollow Drill Bar Imports

Imports in Western Africa

In 2022, approx. X tons of hollow drill bars and rods were imported in Western Africa; with an increase of X% compared with the previous year. Overall, imports, however, saw a drastic downturn. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hollow drill bar imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Burkina Faso was the main importer of hollow drill bars and rods in Western Africa, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Cabo Verde (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%), Liberia (X%), Senegal (X%), Cote d'Ivoire (X%) and Mali (X%).

Imports into Burkina Faso increased at an average annual rate of X% from 2012 to 2022. At the same time, Cabo Verde (X%), Liberia (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Mali (X%) and Ghana (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.), Cabo Verde (X p.p.), Liberia (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) constitutes the largest market for imported hollow drill bars and rods in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Burkina Faso totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a pronounced curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Senegal ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :