ECOWAS: Winding Wire Market 2024

Winding Wire Market Size in ECOWAS

In 2022, the ECOWAS winding wire market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Winding Wire Production in ECOWAS

In value terms, winding wire production dropped slightly to $X in 2022 estimated in export price. In general, production recorded a noticeable setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Winding Wire Exports

Exports in ECOWAS

In 2022, approx. X tons of winding wire for electrical purposes were exported in ECOWAS; with a decrease of X% on the year before. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, winding wire exports skyrocketed to $X in 2022. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal represented the major exporting country with an export of around X tons, which recorded X% of total exports. Ghana (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Togo (X%) and Nigeria (X%). Cote d'Ivoire (X kg), Benin (X kg) and Burkina Faso (X kg) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X), Togo ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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 ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Senegal ($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 mixed trends in the export price figures.

Winding Wire Imports

Imports in ECOWAS

In 2022, approx. X tons of winding wire for electrical purposes were imported in ECOWAS; increasing by X% against the year before. Total imports indicated prominent growth from 2012 to 2022: its volume 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, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by X%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, winding wire imports contracted to $X in 2022. In general, imports enjoyed a measured increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons), Ghana (X tons), Guinea (X tons) and Senegal (X tons) represented the main importer of winding wire for electrical purposes in ECOWAS, achieving X% of total import. Benin (X tons) ranks next in terms of the total imports with a X% share, followed by Liberia (X%). Sierra Leone (X tons) took a relatively small share of total imports.

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

In value terms, Ghana ($X), Guinea ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Liberia, Benin, Sierra Leone and Senegal lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Benin, with a CAGR of X%, recorded the highest growth rate of 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 ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform