Western Africa: Clutch Market 2024

Clutch Market Size in Western Africa

The West African clutch market rose rapidly to $X in 2022, surging by 8.3% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Clutch Production in Western Africa

In value terms, clutch production expanded notably to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Clutch Exports

Exports in Western Africa

In 2022, the amount of clutches exported in Western Africa skyrocketed to X tons, picking up by 78% compared with the year before. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 297% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, clutch exports soared to $X in 2022. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 202%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) represented roughly 96% of total exports in 2022.

Nigeria was also the fastest-growing in terms of the clutches exports, with a CAGR of +22.2% from 2012 to 2022. From 2012 to 2022, the share of Nigeria increased by +11 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest clutch supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +12.0%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -8.3% per year.

Clutch Imports

Imports in Western Africa

In 2022, approx. X tons of clutches were imported in Western Africa; jumping by 25% on the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 124% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, clutch imports rose to $X in 2022. In general, imports saw a measured expansion. The growth pace was the most rapid in 2013 with an increase of 134% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) represented the key importer of clutches, achieving 55% of total imports. Ghana (X tons) ranks second in terms of the total imports with a 20% share, followed by Cote d'Ivoire (7.9%) and Mauritania (4.7%). The following importers - Senegal (X tons), Guinea (X tons) and Gambia (X tons) - together made up 10% of total imports.

Imports into Nigeria decreased at an average annual rate of -2.9% from 2012 to 2022. At the same time, Gambia (+63.0%), Cote d'Ivoire (+21.3%), Senegal (+18.8%), Mauritania (+18.2%), Guinea (+15.6%) and Ghana (+6.0%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +63.0% from 2012-2022. Ghana (+8 p.p.), Cote d'Ivoire (+6.7 p.p.), Mauritania (+3.8 p.p.), Senegal (+3.2 p.p.), Guinea (+2.7 p.p.) and Gambia (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -23.7% from 2012 to 2022, respectively.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 65% share of total imports. Mauritania, Guinea, Senegal and Gambia lagged somewhat behind, together comprising a further 28%.

Mauritania, with a CAGR of +25.6%, saw the highest rates of growth with regard to 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 Western Africa stood at $X per ton in 2022, declining by -19% against the previous year. Over the period under review, the import price, however, recorded a perceptible expansion. The pace of growth appeared the most rapid in 2015 an increase of 62%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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