ECOWAS: Glass Fiber Market 2024

Glass Fiber Market Size in ECOWAS

The ECOWAS glass fiber market shrank to $X in 2022, falling by X% against the previous year. Over the period under review, consumption continues to indicate a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Glass Fiber Production in ECOWAS

In value terms, glass fiber production shrank to $X in 2022 estimated in export price. Overall, production showed a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Glass Fiber Exports

Exports in ECOWAS

In 2022, glass fiber exports in ECOWAS fell significantly to X tons, with a decrease of X% on 2021 figures. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, glass fiber exports contracted remarkably to $X in 2022. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then plummeted in the following year.

Exports by Country

Ghana (X tons) and Togo (X tons) prevails in exports structure, together committing X% of total exports. It was distantly followed by Senegal (X kg), comprising a X% share of total exports. Cote d'Ivoire (X kg) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Togo (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X) remains the largest glass fiber supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a 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 Senegal ($X per ton), while Togo ($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 a decline in the export price figures.

Glass Fiber Imports

Imports in ECOWAS

In 2022, overseas purchases of voiles, webs, mats and other articles of glass fibers decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a temperate increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, glass fiber imports declined significantly to $X in 2022. In general, imports, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2022, Ghana (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons) represented the major importer of voiles, webs, mats and other articles of glass fibers in ECOWAS, constituting X% of total import. Senegal (X tons) held the next position in the ranking, followed by Togo (X tons). All these countries together held near X% share of total imports. The following importers - Liberia (X tons) and Benin (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Liberia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

Liberia, 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

The import price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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

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

Source: IndexBox Platform

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