ECOWAS: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in ECOWAS

The ECOWAS glass fibre and article market shrank modestly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Fibres and Glass Fibre Articles in ECOWAS

In value terms, glass fibre and article production reduced to $X in 2022 estimated in export price. In general, production recorded a mild descent. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports in ECOWAS

In 2022, glass fibre and article exports in ECOWAS dropped notably to X tons, waning by X% on 2021 figures. Over the period under review, exports, however, recorded slight growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, glass fibre and article exports reduced sharply to $X in 2022. In general, exports saw a deep downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

Togo represented the key exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Ghana (X tons), comprising a X% share of total exports. Senegal (X tons) took a minor share of total exports.

Togo was also the fastest-growing in terms of the glass fibres and glass fibre articles exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo and Senegal increased by X and X percentage points, respectively.

In value terms, Togo ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a abrupt decrease. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($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 mixed trends in the export price figures.

Imports of Glass Fibres and Glass Fibre Articles

Imports in ECOWAS

For the fifth year in a row, ECOWAS recorded growth in purchases abroad of glass fibres and glass fibre articles, which increased by X% to X tons in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, glass fibre and article imports reduced to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of glass fibres and glass fibre articles, mixing up X% of total imports. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). Togo (X tons) and Sierra Leone (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre and article importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Togo and Sierra Leone lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by X% against the previous year. In general, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Togo ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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