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

Western Africa - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Iron And Steel Market 2024

Iron And Steel Exports

Exports in Western Africa

In 2021, after three years of growth, there was significant decline in shipments abroad of iron and steel, when their volume decreased by -76% to X tons. Over the period under review, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2013 with an increase of 74% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron and steel exports soared to $X in 2021. Overall, exports continue to indicate a deep slump. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Togo (X tons) and Senegal (X tons) represented roughly 79% of total exports in 2021. It was distantly followed by Burkina Faso (X tons), creating a 21% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of -5.0%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X) remains the largest iron and steel supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was held by Togo ($X), with a 2.3% share of total exports.

In Senegal, iron and steel exports increased at an average annual rate of +21.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (-37.0% per year) and Burkina Faso (+1.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, increasing by 1,760% against the previous year. In general, the export price continues to indicate a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+33.2%), while the other leaders experienced mixed trends in the export price figures.

Iron And Steel Imports

Imports in Western Africa

In 2021, approx. X tons of iron and steel were imported in Western Africa; flattening at the previous year's figure. Overall, imports continue to indicate a pronounced increase. The pace of growth was the most pronounced in 2013 with an increase of 148% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, iron and steel imports declined significantly to $X in 2021. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 125%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Togo dominates imports structure, finishing at X tons, which was near 83% of total imports in 2021. It was distantly followed by Nigeria (X tons), comprising a 7% share of total imports. Gambia (X tons) and Mali (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to iron and steel imports into Togo stood at +5.6%. At the same time, Mali (+12.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +12.2% from 2012-2021. By contrast, Gambia (-2.1%) and Nigeria (-2.5%) illustrated a downward trend over the same period. Togo (+22 p.p.) significantly strengthened its position in terms of the total imports, while Gambia and Nigeria saw its share reduced by -1.8% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest iron and steel importing markets in Western Africa were Togo ($X), Nigeria ($X) and Gambia ($X), together comprising 72% of total imports. These countries were followed by Mali, which accounted for a further 5.9%.

Mali, with a CAGR of +8.5%, saw the highest rates of growth with regard to 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 2021, the import price in Western Africa amounted to $X per ton, declining by -78.7% against the previous year. Over the period under review, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 an increase of 136%. As a result, import price reached the peak level of $X per ton, and then shrank markedly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mali ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of iron and steel consumption was Togo, comprising approx. 83% of total volume. Moreover, iron and steel consumption in Togo exceeded the figures recorded by the second-largest consumer, Nigeria, more than tenfold. Gambia ranked third in terms of total consumption with a 4% share.
In value terms, Senegal remains the largest iron and steel supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was held by Togo, with a 2.3% share of total exports.
In value terms, the largest iron and steel importing markets in Western Africa were Togo, Nigeria and Gambia, together comprising 72% of total imports. These countries were followed by Mali, which accounted for a further 5.9%.
The export price in Western Africa stood at $5,779 per ton in 2021, jumping by 1,760% against the previous year.
In 2021, the import price in Western Africa amounted to $293 per ton, reducing by -78.7% against the previous year.

This report provides an in-depth analysis of the iron and steel market in Western Africa. 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:

    Country coverage:

    • Benin
    • Burkina Faso
    • Cabo Verde
    • Cote d'Ivoire
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Production in Western Africa, split by region and country
    • Trade (exports and imports) in Western Africa
    • 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
      • Mauritania
      • Niger
      • Nigeria
      • Saint Helena, Ascension and Tristan da Cunha
      • 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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