ECOWAS: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in ECOWAS

In 2022, the ECOWAS man-made filament yarn market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a noticeable contraction. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Man-Made Filament Yarn Production in ECOWAS

In value terms, man-made filament yarn production dropped to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Man-Made Filament Yarn Exports

Exports in ECOWAS

In 2022, the amount of man-made filament yarn exported in ECOWAS reduced sharply to X tons, declining by X% against 2021. In general, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, man-made filament yarn exports declined notably to $X in 2022. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Ghana represented the major exporter of man-made filament yarn in ECOWAS, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by Benin (X tons), Nigeria (X tons) and Senegal (X tons), together constituting a X% share of total exports. Togo (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the man-made filament yarn exports, with a CAGR of X% from 2012 to 2022. Benin (X%), Togo (X%), Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Benin increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest man-made filament yarn supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Benin, with a X% share.

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

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Man-Made Filament Yarn Imports

Imports in ECOWAS

In 2022, purchases abroad of man-made filament yarn decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, man-made filament yarn imports declined markedly to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Ghana (X tons), distantly followed by Senegal (X tons), Togo (X tons), Nigeria (X tons), Guinea (X tons) and Burkina Faso (X tons) were the key importers of man-made filament yarn, together mixing up X% of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Senegal ($X), Ghana ($X) and Togo ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($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 import price figures.

Source: IndexBox Platform

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