ECOWAS: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in ECOWAS

The ECOWAS non-reinforced rubber tubing market reached $X in 2023, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Non-Reinforced Rubber Tubing Production in ECOWAS

In value terms, non-reinforced rubber tubing production reached $X in 2023 estimated in export price. The total production indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.

Non-Reinforced Rubber Tubing Exports

Exports in ECOWAS

In 2023, shipments abroad of rubber tubing not reinforced increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports saw a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-reinforced rubber tubing exports soared to $X in 2023. Overall, exports showed a perceptible increase. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Nigeria prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. Sierra Leone (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%).

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Sierra Leone (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Nigeria (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Sierra Leone ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Sierra Leone, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2020 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Non-Reinforced Rubber Tubing Imports

Imports in ECOWAS

In 2023, approx. X tons of rubber tubing not reinforced were imported in ECOWAS; picking up by X% on the previous year. Overall, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, non-reinforced rubber tubing imports expanded remarkably to $X in 2023. In general, imports, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Nigeria (X tons) and Ghana (X tons) represented the main importers of rubber tubing not reinforced in ECOWAS, together resulting at approx. X% of total imports. Senegal (X tons) held the next position in the ranking, followed by Guinea (X tons) and Cote d'Ivoire (X tons). All these countries together took approx. X% share of total imports. The following importers - Sierra Leone (X tons) and Togo (X tons) - each finished at an X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-reinforced rubber tubing importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Senegal ($X), together accounting for X% of total imports. Cote d'Ivoire, Guinea, Sierra Leone and Togo lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2023, 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 Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform