Africa: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Africa

In 2023, the African hollow drill bar market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Overall, consumption continues to indicate a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Hollow Drill Bar Production in Africa

In value terms, hollow drill bar production reduced modestly to $X in 2023 estimated in export price. Over the period under review, production recorded a mild expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Hollow Drill Bar Exports

Exports in Africa

In 2023, overseas shipments of hollow drill bars and rods increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Overall, exports, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2023, the growth of the exports failed to regain momentum.

In value terms, hollow drill bar exports skyrocketed to $X in 2023. Over the period under review, exports, however, showed a mild decrease. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

South Africa prevails in exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by Ghana (X tons), generating an X% share of total exports. Democratic Republic of the Congo (X tons), Burkina Faso (X tons) and Mauritius (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to hollow drill bar exports from South Africa stood at X%. At the same time, Mauritius (X%), Ghana (X%), Burkina Faso (X%) and Democratic Republic of the Congo (X%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. While the share of Ghana (X p.p.), Democratic Republic of the Congo (X p.p.), Burkina Faso (X p.p.) and Mauritius (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Africa (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest hollow drill bar supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

In South Africa, hollow drill bar exports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate a tangible expansion. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Hollow Drill Bar Imports

Imports in Africa

In 2023, the amount of hollow drill bars and rods imported in Africa declined to X tons, falling by X% on the previous year's figure. Over the period under review, imports saw a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, hollow drill bar imports reduced slightly to $X in 2023. In general, imports recorded a abrupt decrease. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, South Africa (X tons) and Ghana (X tons) represented the major importers of hollow drill bars and rods in Africa, together making up X% of total imports. Zimbabwe (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Zambia (X%). Namibia (X tons), Tanzania (X tons), Morocco (X tons), Burkina Faso (X tons), Democratic Republic of the Congo (X tons), Nigeria (X tons) and Lesotho (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Morocco (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hollow drill bar importing markets in Africa were Ghana ($X), South Africa ($X) and Zimbabwe ($X), with a combined X% share of total imports. Tanzania, Zambia, Burkina Faso, Democratic Republic of the Congo, Namibia, Morocco, Lesotho and Nigeria lagged somewhat behind, together comprising a further X%.

Morocco, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Africa stood at $X per ton in 2023, rising by X% against the previous year. Import price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hollow drill bar import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Tanzania ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tanzania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform