Western Africa: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Western Africa

The West African glass fibre and article market reduced to $X in 2022, waning by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Western Africa

In value terms, glass fibre and article production fell modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Glass Fibres and Glass Fibre Articles

Exports in Western Africa

In 2022, the amount of glass fibres and glass fibre articles exported in Western Africa reduced markedly to X tons, which is down by X% on the year before. In general, exports, however, recorded a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, glass fibre and article exports contracted remarkably to $X in 2022. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Togo was the largest exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Ghana (X tons), constituting a X% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the glass fibres and glass fibre articles exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo and Senegal increased by X and X percentage points, respectively.

In value terms, Togo ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Togo, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price faced a deep contraction. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 mixed trends in the export price figures.

Imports of Glass Fibres and Glass Fibre Articles

Imports in Western Africa

In 2022, purchases abroad of glass fibres and glass fibre articles decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced slightly in the following year.

In value terms, glass fibre and article imports dropped dramatically to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the main importer of glass fibres and glass fibre articles, committing X% of total imports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together making up a X% share of total imports. Mauritania (X tons), Togo (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

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

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

In terms of the main importing countries, Togo, with a CAGR of X%, saw the highest growth rate of 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

The import price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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