ECOWAS: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ECOWAS

The ECOWAS non-woven glass fibre articles market declined to $X in 2022, which is down by X% against the previous year. In general, consumption, however, recorded measured growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ECOWAS

In value terms, non-woven glass fibre articles production reduced to $X in 2022 estimated in export price. Overall, production, however, posted noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports in ECOWAS

In 2022, after three years of growth, there was significant decline in overseas shipments of non-woven glass fibre webs, felts, mattresses and boards, when their volume decreased by X% to X tons. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, non-woven glass fibre articles exports contracted notably to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined notably in the following year.

Exports by Country

Togo represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Senegal (X kg) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%). Nigeria (X kg) held a relatively small share of total exports.

Togo was also the fastest-growing in terms of the non-woven glass fibre webs, felts, mattresses and boards exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) and Senegal (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. Togo (X p.p.), Senegal (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then contracted remarkably in the following year.

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 Senegal ($X per ton), while Ghana ($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 more modest paces of growth.

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports in ECOWAS

In 2022, supplies from abroad of non-woven glass fibre webs, felts, mattresses and boards decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate a pronounced expansion. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, non-woven glass fibre articles imports dropped to $X in 2022. Overall, imports, however, recorded mild growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

Ghana represented the major importing country with an import of about X tons, which resulted at X% of total imports. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Nigeria (X tons) and Senegal (X tons). All these countries together held near X% share of total imports. Togo (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-woven glass fibre articles imports into Ghana stood at X%. At the same time, Togo (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire, Senegal and Togo increased by X, X, X and X percentage points, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported non-woven glass fibre webs, felts, mattresses and boards in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

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

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($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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