Africa: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in Africa

The African flat-rolled steel products market totaled $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Flat-Rolled Steel Products Production in Africa

In value terms, flat-rolled steel products production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports in Africa

In 2023, approx. X tons of flat-rolled products of iron or non-alloy steel were exported in Africa; shrinking by X% compared with 2022. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports reduced sharply to $X in 2023. Over the period under review, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, South Africa (X tons) represented the main exporter of flat-rolled products of iron or non-alloy steel, making up X% of total exports. It was distantly followed by Kenya (X tons), achieving a X% share of total exports. Senegal (X tons), Egypt (X tons), Uganda (X tons) and Tanzania (X tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%), Uganda (X%) and Kenya (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Egypt (X%) and Tanzania (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Kenya, Senegal and Uganda 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, South Africa ($X) remains the largest flat-rolled steel products supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Kenya ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

In South Africa, flat-rolled steel products exports contracted by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Kenya (X% per year) and Egypt (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, posted a tangible expansion. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Kenya ($X per ton) and Uganda ($X per ton), while Senegal ($X per ton) and Tanzania ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced mixed trends in the export price figures.

Flat-Rolled Steel Products Imports

Imports in Africa

In 2023, purchases abroad of flat-rolled products of iron or non-alloy steel decreased by X% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, flat-rolled steel products imports shrank notably to $X in 2023. Total imports indicated a tangible increase from 2012 to 2023: its value 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. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then declined dramatically in the following year.

Imports by Country

South Africa (X tons) and Egypt (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Morocco (X tons), Tunisia (X tons) and Algeria (X tons), together generating a X% share of total imports. Kenya (X tons), Mozambique (X tons), Nigeria (X tons), Cote d'Ivoire (X tons) and Ghana (X tons) held a relatively small share of total imports.

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

In value terms, the largest flat-rolled steel products importing markets in Africa were South Africa ($X), Egypt ($X) and Morocco ($X), together comprising X% of total imports.

Among the main importing countries, South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, waning by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform