ECOWAS: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in ECOWAS

The ECOWAS polishes for coachwork market contracted sharply to $X in 2022, waning by X% against the previous year. Overall, consumption saw a slight downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Polishes For Coachwork Production in ECOWAS

In value terms, polishes for coachwork production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polishes For Coachwork Exports

Exports in ECOWAS

In 2022, the amount of polishes for coachwork exported in ECOWAS soared to X tons, rising by X% against the year before. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, polishes for coachwork exports surged to $X in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Senegal (X tons) represented the major exporter of polishes for coachwork, mixing up X% of total exports. Nigeria (X kg) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%). Togo (X kg) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the polishes for coachwork exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) and Nigeria (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Cote d'Ivoire and Togo increased by X, X and X percentage points, respectively.

In value terms, the largest polishes for coachwork supplying countries in ECOWAS were Togo ($X), Nigeria ($X) and Senegal ($X), together comprising X% of total exports.

Among the main exporting countries, Senegal, 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 more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate temperate growth. The most prominent rate of growth was recorded in 2019 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 2020 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 Togo ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Polishes For Coachwork Imports

Imports in ECOWAS

In 2022, overseas purchases of polishes for coachwork decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, polishes for coachwork imports fell rapidly to $X in 2022. In general, imports showed a noticeable decline. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana was the largest importer of polishes for coachwork in ECOWAS, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Cabo Verde (X tons) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%), Cote d'Ivoire (X%), Senegal (X%) and Mali (X%). Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polishes for coachwork imports into Ghana stood at X%. At the same time, Mali (X%), Cabo Verde (X%), Cote d'Ivoire (X%), Senegal (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Mali 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. While the share of Ghana (X p.p.), Cabo Verde (X p.p.), Cote d'Ivoire (X p.p.), Senegal (X p.p.), Mali (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cabo Verde, Mali, Guinea and Senegal lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, saw 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. In general, the import price recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform