Western Africa: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Exports

Exports in Western Africa

In 2022, after two years of growth, there was significant decline in shipments abroad of erasers of vulcanised rubber, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, vulcanised rubber erases exports reduced dramatically to $X in 2022. In general, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

Ghana was the largest exporter of erasers of vulcanised rubber in Western Africa, with the volume of exports resulting at X kg, which was approx. X% of total exports in 2022. Cabo Verde (X kg) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%) and Senegal (X%). The following exporters - Togo (X kg) and Guinea (X kg) - each finished at a X% share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Cabo Verde (X%), Guinea (X%), Nigeria (X%) and Togo (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Cabo Verde (X p.p.), Nigeria (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest vulcanised rubber erases supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a X% share of total exports. It was followed by Nigeria, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to X%. In the other countries, the average annual rates were as follows: Cabo Verde (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. In general, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 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 Guinea ($X per ton), while Ghana ($X per ton) 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.

Vulcanised Rubber Erases Imports

Imports in Western Africa

In 2022, overseas purchases of erasers of vulcanised rubber increased by X% to X tons, rising for the fourth year in a row after five years of decline. Over the period under review, imports saw a tangible increase. The growth pace was the most rapid in 2013 when imports increased by X% 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, vulcanised rubber erases imports amounted to $X in 2022. Overall, imports showed resilient growth. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached 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) was the main importer of erasers of vulcanised rubber, constituting X% of total imports. Ghana (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Guinea (X tons), Sierra Leone (X tons) and Benin (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Sierra Leone (X%), Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Ghana experienced a relatively flat trend pattern. Nigeria (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vulcanised rubber erases importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Guinea ($X), together accounting for X% of total imports. Sierra Leone, Cote d'Ivoire and Benin lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Sierra Leone, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guinea ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :