ECOWAS: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in ECOWAS

The ECOWAS rubber tube and pipe market was estimated at $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Tubes, Pipes And Hoses Of Vulcanized Rubber in ECOWAS

In value terms, rubber tube and pipe production expanded significantly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate mild growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports in ECOWAS

In 2023, overseas shipments of tubes, pipes and hoses of vulcanized rubber increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, exports recorded a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, rubber tube and pipe exports surged to $X in 2023. Overall, exports posted a strong expansion. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Benin was the largest exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Nigeria (X tons), Cote d'Ivoire (X tons) and Togo (X tons), together constituting a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

Benin was also the fastest-growing in terms of the tubes, pipes and hoses of vulcanized rubber exports, with a CAGR of X% from 2012 to 2023. At the same time, Togo (X%), Ghana (X%) and Nigeria (X%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Benin (X p.p.) and Togo (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Benin ($X) emerged as the largest rubber tube and pipe supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Benin stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports in ECOWAS

In 2023, the amount of tubes, pipes and hoses of vulcanized rubber imported in ECOWAS contracted slightly to X tons, approximately equating 2022 figures. Overall, imports showed a mild decrease. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, rubber tube and pipe imports fell to $X in 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2023. Benin (X tons) ranks next in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). Guinea (X tons), Mali (X tons) and Liberia (X tons) followed a long way behind the leaders.

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

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Senegal, Benin, Guinea, Mali and Liberia lagged somewhat behind, together comprising a further X%.

Benin, 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 2023, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($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 more modest paces of growth.

Source: IndexBox Platform