Western Africa: Insulating Fittings Market 2024

Insulating Fittings Market Size in Western Africa

After four years of growth, the West African insulating fittings market decreased by X% to $X in 2022. Overall, consumption, however, showed a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced remarkably in the following year.

Insulating Fittings Production in Western Africa

In value terms, insulating fittings production stood at $X in 2022 estimated in export price. The total production indicated prominent growth 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. The level of production peaked in 2022 and is expected to retain growth in years to come.

Insulating Fittings Exports

Exports in Western Africa

For the third consecutive year, Western Africa recorded growth in shipments abroad of insulating fittings for electrical purposes, which increased by X% to X tons in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, insulating fittings exports soared to $X in 2022. Overall, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the key exporter of insulating fittings for electrical purposes in Western Africa, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Burkina Faso (X tons), committing a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

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

In value terms, the largest insulating fittings supplying countries in Western Africa were Burkina Faso ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of 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 export price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a abrupt slump. The growth pace was the most rapid in 2019 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the export price figures.

Insulating Fittings Imports

Imports in Western Africa

After four years of growth, supplies from abroad of insulating fittings for electrical purposes decreased by X% to X tons in 2022. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, insulating fittings imports shrank dramatically to $X in 2022. In general, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. Ghana (X tons) held a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the insulating fittings for electrical purposes imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Nigeria (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.

In value terms, Nigeria ($X) constitutes the largest market for imported insulating fittings for electrical purposes in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Source: IndexBox Platform

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