ECOWAS: Rolled Bitumen Articles Market 2024

Rolled Bitumen Articles Market Size in ECOWAS

The ECOWAS rolled bitumen articles market reached $X in 2023, surging by X% against the previous year. The total consumption indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Rolled Bitumen Articles Production in ECOWAS

In value terms, rolled bitumen articles production expanded rapidly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Rolled Bitumen Articles Exports

Exports in ECOWAS

After two years of growth, overseas shipments of articles of bitumen in rolls decreased by X% to X square meters in 2023. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. As a result, the exports reached the peak of X square meters. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, rolled bitumen articles exports reduced notably to $X in 2023. Over the period under review, exports continue to indicate a sharp setback. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X square meters, which was near X% of total exports in 2023. Senegal (X square meters) followed a long way behind the leaders.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of articles of bitumen in rolls. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Senegal increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest rolled bitumen articles supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%.

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2023, with an increase of X% against the previous year. In general, the export price, however, showed a significant decline. The pace of growth was the most pronounced in 2022 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per square meter in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per square meter), while Cote d'Ivoire amounted to $X per square meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Rolled Bitumen Articles Imports

Imports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in purchases abroad of articles of bitumen in rolls, which increased by X% to X square meters in 2023. Over the period under review, imports posted a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, rolled bitumen articles imports surged to $X in 2023. In general, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, Nigeria (X square meters) represented the key importer of articles of bitumen in rolls, generating X% of total imports. Senegal (X square meters) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Ghana (X%). Togo (X square meters), Mali (X square meters) and Benin (X square meters) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to rolled bitumen articles imports into Nigeria stood at X%. At the same time, Togo (X%), Cote d'Ivoire (X%), Mali (X%), Senegal (X%), Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported articles of bitumen in rolls in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per square meter, reducing by X% against the previous year. Overall, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per square meter), while Senegal ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform