Updated Oct 1, 2022 10:29

Market for Aluminium Alloy Plate, Sheet and Strip of Thickness over 0.2 mm in Western Africa

Market Overview
The West African market for aluminium alloy plates, sheets and strip of thickness over mm declined to $ in , shrinking by -% against 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, however, enjoyed a tangible increase. As a result, consumption attained the peak level of $. From 2019 to , the growth of the market remained at a lower figure.

In value terms, production of aluminium alloy plates, sheets and strip of thickness over mm rose rapidly to $ in estimated in export price. The total production indicated a perceptible increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of % against the previous year. The level of production peaked at $ in 2018; however, from 2019 to , production failed to regain momentum.

The countries with the highest volumes of production in were Togo ( tons), Sierra Leone ( tons) and Gambia ( tons).

From 2007 to , the biggest increases were recorded for Togo (with a CAGR of +%), while mm for the other leaders experienced more modest paces of growth.


Consumption
In , consumption of aluminium alloy plates, sheets and strip of thickness over mm was finally on the rise to reach tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption recorded a pronounced increase. As a result, consumption attained the peak volume of tons. From 2019 to , the growth of the consumption of failed to regain momentum.

The size of the market for aluminium alloy plates, sheets and strip of thickness over mm in Western Africa was estimated at $ in , surging by % against 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). In general, consumption showed a perceptible increase. As a result, consumption attained the peak level of $. From 2019 to , the growth of the market remained at a lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were Togo ( tons), Nigeria ( tons) and Sierra Leone ( tons), with a combined % share of total consumption. These countries were followed by Gambia, Ghana and Cote d'Ivoire, which together accounted for a further %.

From 2007 to , the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +%), while mm for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($), Nigeria ($) and Togo ($) appeared to be the countries with the highest levels of market value in , with a combined % share of the total market. These countries were followed by Gambia, Ghana and Cote d'Ivoire, which together accounted for a further %.

Among the main consuming countries, Cote d'Ivoire, with a CAGR of +%, recorded the highest rates of growth with regard to market size over the period under review, while mm for the other leaders experienced more modest paces of growth.

In No countries per capita consumption of aluminium alloy plates, sheets and strip of thickness over mm remained relatively stable over the period from 2007-.


Market Forecast
Driven by increasing demand for aluminium alloy plate, sheet and strip of thickness over mm in Western Africa, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .