Pig Iron Market in Africa
In value terms, pig iron production contracted remarkably to $ in estimated in export price. In general, production, however, showed a slight expansion. The pace of growth was the most pronounced in with an increase of %. As a result, production attained the peak level of $, and then shrank remarkably in the following year.
Nigeria ( tons) constituted the country with the largest volume of pig iron production, comprising approx. % of total volume. Moreover, pig iron production in Nigeria exceeded the figures recorded by the second-largest producer, Democratic Republic of the Congo ( tons), twofold. Tanzania ( tons) ranked third in terms of total production with an % share.
From 2007 to , the average annual growth rate of volume in Nigeria amounted to +%. The remaining producing countries recorded the following average annual rates of production growth: Democratic Republic of the Congo (+% per year) and Tanzania (+% per year).
The size of the pig iron market in Africa reached $ in , approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a mild setback. The pace of growth appeared the most rapid in 2018 with an increase of %. The level of consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.
From 2007 to , the average annual rate of growth in terms of volume in Nigeria stood at +%. In the other countries, the average annual rates were as follows: Democratic Republic of the Congo (+% per year) and Tanzania (+% per year).
In value terms, Tanzania ($), Nigeria ($) and Kenya ($) were the countries with the highest levels of market value in , together accounting for % of the total market. Democratic Republic of the Congo, Uganda, Angola, South Africa, Tunisia, Ghana, Cameroon, Madagascar and Algeria lagged somewhat behind, together accounting for a further %.
Angola, with a CAGR of +%, saw the highest rates of growth with regard to market size, in terms of the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.
The countries with the highest levels of pig iron per capita consumption in were Tunisia ( kg per person), Tanzania ( kg per person) and Uganda ( kg per person).
From 2007 to , the biggest increases were in Nigeria (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.