Western Africa: Tyre Market 2024

Tyre Market Size in Western Africa

The West African tyre market was estimated at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Tyre Production in Western Africa

In value terms, tyre production fell modestly to $X in 2022 estimated in export price. The total production indicated a pronounced increase 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 appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Tyre Exports

Exports in Western Africa

Tyre exports contracted dramatically to X units in 2022, declining by X% compared with the year before. Overall, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tyre exports surged to $X in 2022. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X units) was the key exporter of tyres, creating X% of total exports. It was distantly followed by Senegal (X units), Mali (X units) and Togo (X units), together committing a X% share of total exports. The following exporters - Burkina Faso (X units), Sierra Leone (X units) and Cote d'Ivoire (X units) - each accounted for a X% share of total exports.

Ghana was also the fastest-growing in terms of the tyres exports, with a CAGR of X% from 2012 to 2022. At the same time, Mali (X%) displayed positive paces of growth. Senegal experienced a relatively flat trend pattern. By contrast, Togo (X%), Sierra Leone (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Senegal (X p.p.), Mali (X p.p.), Togo (X p.p.), Burkina Faso (X p.p.), Sierra Leone (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Mali ($X) and Ghana ($X) appeared to be 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, Mali, with a CAGR of X%, saw the highest rates of growth with regard to 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 unit in 2022, jumping by X% against the previous year. Over the period under review, the export price showed a significant expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Tyre Imports

Imports in Western Africa

In 2022, the amount of tyres imported in Western Africa fell notably to X units, with a decrease of X% against 2021 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, tyre imports shrank to $X in 2022. In general, imports showed a slight downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X units) and Mali (X units) represented the main importers of tyres in 2022, amounting to approx. X% and X% of total imports, respectively. It was distantly followed by Guinea (X units), Nigeria (X units) and Cote d'Ivoire (X units), together comprising a X% share of total imports. Gambia (X units) and Mauritania (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mauritania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Guinea, Mali, Mauritania and Gambia lagged somewhat behind, together accounting for a further X%.

Gambia, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 unit in 2022, growing by X% against the previous year. Overall, the import price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the 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 Mauritania ($X per unit), while Gambia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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