Ghana: Glass Fiber Market 2022

Glass Fiber Market Size in Ghana

In 2021, the Ghanian glass fiber market decreased by -X% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. Glass fiber consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Glass Fiber Exports

Exports from Ghana

In 2021, exports of voiles, webs, mats and other articles of glass fibers from Ghana amounted to X tons, increasing by X% compared with the previous year. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports expanded markedly to $X in 2021. Over the period under review, exports continue to indicate a mild contraction. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons), Togo (X tons) and Angola (X tons) were the main destinations of glass fiber exports from Ghana, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Cote d'Ivoire (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Togo ($X) and Angola ($X) were the largest markets for glass fiber exported from Ghana worldwide, together comprising X% of total exports.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fiber export price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2015 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Angola ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+X%), while the prices for the other major destinations experienced a decline.

Glass Fiber Imports

Imports into Ghana

In 2021, the amount of voiles, webs, mats and other articles of glass fibers imported into Ghana rose modestly to X tons, growing by X% compared with the year before. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth imports remained at a lower figure.

In value terms, glass fiber imports dropped to $X in 2021. In general, imports showed a perceptible contraction. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest glass fiber supplier to Ghana, accounting for a X% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), ninefold. The third position in this ranking was occupied by Turkey (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and Turkey (+X% per year).

In value terms, China ($X) constituted the largest supplier of glass fiber to Ghana, comprising X% of total imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Switzerland, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and Switzerland (+X% per year).

Import Prices by Country

In 2021, the average glass fiber import price amounted to $X per ton, declining by -X% against the previous year. Overall, the import price showed a noticeable reduction. The growth pace was the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform