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ECOWAS - Tufted Carpets and Other Tufted Textile Floor Coverings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Tufted Carpet Market 2024
Tufted Carpet Market Size in ECOWAS
The ECOWAS tufted carpet market amounted to $X in 2022, leveling off at the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.
Tufted Carpet Production in ECOWAS
In value terms, tufted carpet production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 51%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.
Tufted Carpet Exports
Exports in ECOWAS
Tufted carpet exports reduced markedly to X square meters in 2022, waning by -81.8% compared with the previous year's figure. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 317% against the previous year. The volume of export peaked at X square meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
In value terms, tufted carpet exports contracted significantly to $X in 2022. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 193% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
Exports by Country
Nigeria represented the key exporter of tufted carpets and other tufted textile floor coverings in ECOWAS, with the volume of exports accounting for X square meters, which was near 50% of total exports in 2022. Senegal (X square meters) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (9.7%), Ghana (8.5%), Niger (6.5%) and Togo (5.2%). Benin (X square meters) held a relatively small share of total exports.
From 2012 to 2022, average annual rates of growth with regard to tufted carpet exports from Nigeria stood at -11.2%. At the same time, Senegal (+21.9%), Gambia (+16.2%) and Niger (+13.6%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +21.9% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Benin (-2.7%) and Togo (-2.9%) illustrated a downward trend over the same period. While the share of Senegal (+14 p.p.), Gambia (+8.7 p.p.), Niger (+5.7 p.p.), Ghana (+4.6 p.p.), Benin (+3.3 p.p.) and Togo (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-28.4 p.p.) displayed negative dynamics.
In value terms, Nigeria ($X) emerged as the largest tufted carpet supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was taken by Senegal ($X), with a 10% share of total exports. It was followed by Gambia, with a 9.1% share.
From 2012 to 2022, the average annual growth rate of value in Nigeria stood at -12.1%. In the other countries, the average annual rates were as follows: Senegal (+13.4% per year) and Gambia (+13.4% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per square meter in 2022, with an increase of 51% against the previous year. Overall, the export price, however, continues to indicate a slight downturn. The level of export peaked at $X per square meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per square meter), while Ghana ($X per square meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+4.8%), while the other leaders experienced mixed trends in the export price figures.
Tufted Carpet Imports
Imports in ECOWAS
In 2022, purchases abroad of tufted carpets and other tufted textile floor coverings increased by 2.8% to X square meters, rising for the fifth year in a row after two years of decline. Over the period under review, imports posted a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 80% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.
In value terms, tufted carpet imports reached $X in 2022. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 52% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.
Imports by Country
Ghana prevails in imports structure, resulting at X square meters, which was approx. 58% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X square meters), Nigeria (X square meters) and Guinea (X square meters), together comprising a 19% share of total imports. The following importers - Mali (X square meters), Benin (X square meters), Senegal (X square meters), Liberia (X square meters) and Sierra Leone (X square meters) - together made up 18% of total imports.
From 2012 to 2022, average annual rates of growth with regard to tufted carpet imports into Ghana stood at +22.6%. At the same time, Liberia (+25.3%), Guinea (+20.2%), Benin (+13.9%), Mali (+8.8%) and Cote d'Ivoire (+4.6%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +25.3% from 2012-2022. By contrast, Sierra Leone (-1.4%), Nigeria (-3.5%) and Senegal (-5.3%) illustrated a downward trend over the same period. While the share of Ghana (+37 p.p.), Guinea (+3 p.p.) and Liberia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sierra Leone (-3.6 p.p.), Cote d'Ivoire (-5.4 p.p.), Senegal (-14.6 p.p.) and Nigeria (-17.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) constitutes the largest market for imported tufted carpets and other tufted textile floor coverings in ECOWAS, comprising 57% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 9% share of total imports. It was followed by Nigeria, with a 7.8% share.
From 2012 to 2022, the average annual growth rate of value in Ghana amounted to +17.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+3.1% per year) and Nigeria (-3.4% per year).
Import Prices by Country
In 2022, the import price in ECOWAS amounted to $X per square meter, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 an increase of 7.1%. Over the period under review, import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Benin ($X per square meter), while Mali ($X per square meter) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+0.9%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the tufted carpet market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 13931300 - Tufted carpets and other tufted textile floor coverings
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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