Ghana: Textile Tubing Market 2023

Textile Tubing Market Size in Ghana

The Ghanian textile tubing market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption enjoyed a buoyant expansion. Textile tubing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Textile Tubing Production in Ghana

In value terms, textile tubing production expanded to $X in 2021 estimated in export price. Overall, production showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 107%. Textile tubing production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Textile Tubing Exports

Exports from Ghana

Textile tubing exports from Ghana shrank notably to X kg in 2021, reducing by -23.4% compared with 2020. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 94%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, textile tubing exports totaled $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 293% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Angola (X kg) was the main destination for textile tubing exports from Ghana, accounting for a 96% share of total exports. It was followed by Cote d'Ivoire (X kg), with a 1.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Angola stood at +27.0%.

In value terms, Angola ($X) and Cote d'Ivoire ($X) were the largest markets for textile tubing exported from Ghana worldwide.

Angola, with a CAGR of +9.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average textile tubing export price amounted to $X per ton, rising by 36% against the previous year. Overall, the export price posted a significant increase. The growth pace was the most rapid in 2016 when the average export price increased by 142% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Angola amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+63.6%).

Textile Tubing Imports

Imports into Ghana

In 2021, purchases abroad of textile hosepiping and similar textile tubing decreased by -4.4% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 289%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, textile tubing imports shrank modestly to $X in 2021. Overall, imports showed a dramatic slump. The growth pace was the most rapid in 2017 when imports increased by 585%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest textile tubing supplier to Ghana, with a 86% share of total imports. Moreover, textile tubing imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. Japan (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-4.2% per year) and Japan (-14.0% per year).

In value terms, China ($X) constituted the largest supplier of textile hosepiping and similar textile tubing to Ghana, comprising 76% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.6% share of total imports. It was followed by Japan, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.8% per year) and Japan (-10.6% per year).

Import Prices by Country

In 2021, the average textile tubing import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 76% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :