Western Africa - Hot-Rolled Bars in Bearing Steels - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Market for Hot-Rolled Bars In Bearing Steels 2024
Market Size for Hot-Rolled Bars In Bearing Steels in Western Africa
The West African hot-rolled bearing steel bar market expanded modestly to $X in 2023, surging by X% against the previous year. Overall, consumption, however, continues to indicate a noticeable downturn. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.
Production of Hot-Rolled Bars In Bearing Steels in Western Africa
In value terms, hot-rolled bearing steel bar production reached $X in 2023 estimated in export price. In general, production, however, recorded a abrupt setback. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
Exports of Hot-Rolled Bars In Bearing Steels
Exports in Western Africa
Hot-rolled bearing steel bar exports rose rapidly to X tons in 2023, surging by X% compared with the previous year. Over the period under review, exports, however, faced a significant decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
In value terms, hot-rolled bearing steel bar exports soared to $X in 2023. Overall, exports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
Exports by Country
Niger was the main exporter of hot-rolled bars in bearing steels in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Nigeria (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (X%). Senegal (X tons) followed a long way behind the leaders.
From 2012 to 2023, average annual rates of growth with regard to hot-rolled bearing steel bar exports from Niger stood at X%. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Sierra Leone (X%) and Nigeria (X%) illustrated a downward trend over the same period. Niger (X p.p.), Sierra Leone (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively.
In value terms, the largest hot-rolled bearing steel bar supplying countries in Western Africa were Sierra Leone ($X), Niger ($X) and Nigeria ($X), together comprising X% of total exports. Senegal lagged somewhat behind, comprising a further X%.
Senegal, with a CAGR of X%, saw 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 mixed trends in the exports figures.
Export Prices by Country
The export price in Western Africa stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The pace of growth was the most pronounced in 2019 when the export price increased by X%. Over the period under review, the export prices reached the maximum in 2023 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($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 Nigeria (X%), while the other leaders experienced a decline in the export price figures.
Imports of Hot-Rolled Bars In Bearing Steels
Imports in Western Africa
Hot-rolled bearing steel bar imports expanded markedly to X tons in 2023, growing by X% compared with the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.
In value terms, hot-rolled bearing steel bar imports expanded rapidly to $X in 2023. Over the period under review, imports continue to indicate temperate growth. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2023, Ghana (X tons) represented the main importer of hot-rolled bars in bearing steels, generating X% of total imports. Guinea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%). Benin (X tons), Cote d'Ivoire (X tons) and Togo (X tons) took a little share of total imports.
Imports into Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Togo (X%), Nigeria (X%) and Benin (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Guinea, Ghana and Cote d'Ivoire increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.
From 2012 to 2023, the average annual growth rate of value in Ghana amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Guinea (X% per year).
Import Prices by Country
The import price in Western Africa stood at $X per ton in 2023, increasing by X% against the previous year. Import price indicated a mild increase 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, hot-rolled bearing steel bar import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled bearing steel bar 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 24106630 - Hot-rolled bars in bearing 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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