ECOWAS: Check Valve Market 2024

Check Valve Market Size in ECOWAS

In 2022, after three years of growth, there was significant decline in the ECOWAS check valve market, when its value decreased by X% to $X. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Check Valve Production in ECOWAS

In value terms, check valve production shrank modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Check Valve Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in shipments abroad of check valves for pipes, boiler shells, tanks and vats, when their volume increased by X% to X tons. Overall, exports, however, faced a deep setback. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, check valve exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mali dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), mixing up a X% share of total exports. Ghana (X kg) held a minor share of total exports.

Exports from Mali decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Mali (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mali ($X) remains the largest check valve supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mali stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by X% against the previous year. In general, the export price saw a strong increase. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the export price figures.

Check Valve Imports

Imports in ECOWAS

In 2022, check valve imports in ECOWAS skyrocketed to X tons, increasing by X% on the previous year's figure. Overall, imports saw a strong increase. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, check valve imports contracted significantly to $X in 2022. Over the period under review, imports saw a measured increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted notably in the following year.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together achieving a X% share of total imports. Niger (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to check valve imports into Nigeria stood at X%. At the same time, Niger (X%), Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Niger and Ghana increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported check valves for pipes, boiler shells, tanks and vats in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, check valve imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a perceptible descent. The growth pace was the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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