Western Africa - Hot-Rolled Bars in Free-Cutting Steels - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Hot-Rolled Free-Cutting Steel Market 2024
Hot-Rolled Free-Cutting Steel Market Size in Western Africa
In 2022, the West African hot-rolled free-cutting steel market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption recorded a prominent expansion. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.
Hot-Rolled Free-Cutting Steel Production in Western Africa
In value terms, hot-rolled free-cutting steel production skyrocketed to $X in 2022 estimated in export price. In general, production recorded a perceptible expansion. The pace of growth appeared the most rapid in 2020 with an increase of X,758% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.
Hot-Rolled Free-Cutting Steel Exports
Exports in Western Africa
Hot-rolled free-cutting steel exports plummeted to X tons in 2022, falling by X% compared with 2021 figures. Over the period under review, exports continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.
In value terms, hot-rolled free-cutting steel exports dropped notably to $X in 2022. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
Exports by Country
Ghana (X tons) represented roughly X% of total exports in 2022.
Ghana was also the fastest-growing in terms of the hot-rolled bars in free-cutting steels exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) also remains the largest hot-rolled free-cutting steel supplier in Western Africa.
In Ghana, hot-rolled free-cutting steel exports decreased by an average annual rate of X% over the period from 2012-2022.
Export Prices by Country
The export price in Western Africa stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price showed a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Ghana.
From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.
Hot-Rolled Free-Cutting Steel Imports
Imports in Western Africa
In 2022, purchases abroad of hot-rolled bars in free-cutting steels decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, imports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, hot-rolled free-cutting steel imports contracted to $X in 2022. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.
Imports by Country
In 2022, Mali (X tons) was the major importer of hot-rolled bars in free-cutting steels, comprising X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%), Cabo Verde (X%), Nigeria (X%), Cote d'Ivoire (X%) and Guinea-Bissau (X%).
Imports into Mali increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea-Bissau (X%), Cote d'Ivoire (X%), Ghana (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Guinea-Bissau emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Guinea (X%) illustrated a downward trend over the same period. Mali (X p.p.), Ghana (X p.p.), Guinea-Bissau (X p.p.), Cote d'Ivoire (X p.p.) and Cabo Verde (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Guinea saw its share reduced by X% and X% from 2012 to 2022, respectively.
In value terms, Mali ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.
From 2012 to 2022, the average annual growth rate of value in Mali stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).
Import Prices by Country
The import price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled free-cutting steel import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Guinea ($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 more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the hot-rolled free-cutting 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:
- Prodcom 24106230 - Hot-rolled bars in free-cutting steels
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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. 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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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