Africa: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Africa

The African steel stranded wire market fell to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Steel Stranded Wire Production in Africa

In value terms, steel stranded wire production contracted to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Steel Stranded Wire Exports

Exports in Africa

In 2022, exports of iron or steel stranded wire, ropes and cables in Africa dropped to X tons, with a decrease of X% against the year before. Overall, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports expanded markedly to $X in 2022. Over the period under review, exports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Africa was the main exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Tunisia (X tons), making up a X% share of total exports. The following exporters - Egypt (X tons) and Angola (X tons) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to steel stranded wire exports from South Africa stood at X%. At the same time, Tunisia (X%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Egypt (X%) and Angola (X%) illustrated a downward trend over the same period. Tunisia (X p.p.) and Angola (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest steel stranded wire supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Tunisia ($X), with an X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to X%. In the other countries, the average annual rates were as follows: Tunisia (X% per year) and Egypt (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a notable increase 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, steel stranded wire export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (X%), while the other leaders experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports in Africa

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were imported in Africa; falling by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, steel stranded wire imports expanded to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

South Africa (X tons) and Morocco (X tons) represented roughly X% of total imports in 2022. Egypt (X tons) held the next position in the ranking, followed by Algeria (X tons) and Tanzania (X tons). All these countries together held approx. X% share of total imports. Cote d'Ivoire (X tons), Ghana (X tons), Zambia (X tons), Democratic Republic of the Congo (X tons), Nigeria (X tons), Mozambique (X tons), Tunisia (X tons) and Equatorial Guinea (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel stranded wire importing markets in Africa were South Africa ($X), Morocco ($X) and Egypt ($X), together accounting for X% of total imports. Algeria, Cote d'Ivoire, Tanzania, Zambia, Ghana, Tunisia, Mozambique, Nigeria, Equatorial Guinea and Democratic Republic of the Congo lagged somewhat behind, together comprising a further X%.

Tanzania, with a CAGR of X%, saw the highest growth rate of 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 2022, increasing by X% against the previous year. In general, the import price, however, continues to indicate a mild setback. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, 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 import price figures.

Source: IndexBox Platform

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