Western Africa: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Western Africa

The West African rubber-to-metal and moulded article market shrank modestly to $X in 2022, declining by X% against the previous year. The total consumption indicated measured 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, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Rubber-to-Metal and Moulded Articles in Western Africa

In value terms, rubber-to-metal and moulded article production declined modestly to $X in 2022 estimated in export price. Overall, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Exports of Rubber-to-Metal and Moulded Articles

Exports in Western Africa

In 2022, approx. X tons of rubber-to-metal and moulded articles were exported in Western Africa; picking up by X% on the previous year's figure. Over the period under review, exports showed a relatively flat trend pattern. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, rubber-to-metal and moulded article exports surged to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the major exporting country with an export of around X tons, which recorded X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Sierra Leone (X%) and Senegal (X%). Liberia (X tons) took a relatively small share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Senegal (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Sierra Leone (X p.p.), Senegal (X p.p.) and Liberia (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Ghana ($X), Sierra Leone ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Senegal and Liberia lagged somewhat behind, together accounting for a further X%.

Liberia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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, which is down by X% against the previous year. Overall, the export price recorded a slight reduction. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 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 Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Imports of Rubber-to-Metal and Moulded Articles

Imports in Western Africa

In 2022, the amount of rubber-to-metal and moulded articles imported in Western Africa reduced to X tons, declining by X% on 2021. In general, imports showed a perceptible decline. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, rubber-to-metal and moulded article imports fell to $X in 2022. Over the period under review, imports showed a slight reduction. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana was the key importing country with an import of about X tons, which amounted to X% of total imports. Benin (X tons) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%), Cote d'Ivoire (X%), Sierra Leone (X%), Guinea (X%), Senegal (X%) and Burkina Faso (X%).

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Sierra Leone (X%), Senegal (X%) and Burkina Faso (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. By contrast, Guinea (X%), Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Benin (X p.p.), Sierra Leone (X p.p.), Senegal (X p.p.), Burkina Faso (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria 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, Ghana ($X) constitutes the largest market for imported rubber-to-metal and moulded articles in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Burkina Faso ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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