ECOWAS: Market for Vacuum Flasks and Vessels 2024

Market Size for Vacuum Flasks and Vessels in ECOWAS

The ECOWAS vacuum flask and vessel market rose slightly to $X in 2022, growing by X% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Vacuum Flasks and Vessels in ECOWAS

In value terms, vacuum flask and vessel production rose modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Vacuum Flasks and Vessels

Exports in ECOWAS

In 2022, shipments abroad of vacuum flasks and vessels increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vacuum flask and vessel exports rose sharply to $X in 2022. In general, exports posted slight growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X units) and Ghana (X units) prevails in exports structure, together comprising X% of total exports. The following exporters - Benin (X units), Burkina Faso (X units) and Togo (X units) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Benin ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Benin, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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 unit, dropping by X% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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 Ghana ($X per unit), while Burkina Faso (less than $X per unit) was amongst the lowest.

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

Imports of Vacuum Flasks and Vessels

Imports in ECOWAS

In 2022, purchases abroad of vacuum flasks and vessels decreased by X% to X units, falling for the second year in a row after five years of growth. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, vacuum flask and vessel imports fell slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the key importer of vacuum flasks and vessels in ECOWAS, with the volume of imports finishing at X units, which was near X% of total imports in 2022. Senegal (X units) took the second position in the ranking, followed by Ghana (X units), Guinea (X units) and Benin (X units). All these countries together held near X% share of total imports. Cote d'Ivoire (X units) and Sierra Leone (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vacuum flask and vessel imports into Nigeria stood at X%. At the same time, Benin (X%), Senegal (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Benin (X p.p.), Cote d'Ivoire (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Sierra Leone, Senegal, Cote d'Ivoire and Benin lagged somewhat behind, together accounting for 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

The import price in ECOWAS stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per unit), while Senegal ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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