IndexBox has recently released a new report titled “Africa – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights.” The report offers an in-depth analysis of the African iron or steel wire products market from 2013 to 2024, and provides forecasts up to 2035.
In 2024, the consumption of these products in Africa reached 433K tons, valued at $920M. The leading consumers were Egypt, Kenya, and South Africa. The production stood at 403K tons, worth $860M. The market is projected to expand to 540K tons, with a value of $1.2B by 2035.
Africa is a net importer of iron or steel wire products, with imports (39K tons) significantly surpassing exports (9.4K tons). The major importers are South Africa, Algeria, and Tanzania, while the leading exporters are South Africa, Tunisia, and Morocco. The report also provides detailed information on per capita consumption, market shares at the country level, and the dynamics of import/export prices.
Key findings of the report include:
– The African market is predicted to expand to 540K tons, worth $1.2B by 2035.
– Egypt, Kenya, and South Africa are the leading consumers, accounting for 48% of the total volume.
– Africa imports more than it exports, with imports (39K tons) significantly exceeding exports (9.4K tons).
– South Africa is the primary exporter and a significant importer, indicating its central role in trade.
– Import prices vary significantly, ranging from $303 per ton in Burkina Faso to $3,405 per ton in Tunisia.
The report forecasts that the increasing demand for iron or steel wire products in Africa will drive the market’s upward consumption trend over the next decade. The market performance is expected to maintain its current trend pattern, expanding with an anticipated compound annual growth rate (CAGR) of +2.0% from 2024 to 2035. This growth is projected to bring the market volume to 540K tons by the end of 2035.
In terms of value, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035. This increase is projected to bring the market value to $1.2B (in nominal wholesale prices) by the end of 2035.
The report also highlights that Africa’s consumption of iron or steel wire products has grown for the fourth consecutive year, increasing by 3.9% to 433K tons in 2024. The total consumption volume increased at an average annual rate of +2.4% from 2013 to 2024. The most rapid growth was recorded in 2023 when the consumption volume increased by 8.9%. The peak volume was attained in 2024, and growth is expected to continue in the immediate term.
The market value for iron or steel wire products in Africa significantly rose to $920M in 2024, growing by 8.4% 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). The market value increased at an average annual rate of +2.2% over the period from 2013 to 2024.
