Western Africa: Market for Vacuum Flasks and Vessels 2024

Market Size for Vacuum Flasks and Vessels in Western Africa

The West African vacuum flask and vessel market stood at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Vacuum Flasks and Vessels in Western Africa

In value terms, vacuum flask and vessel production expanded modestly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Vacuum Flasks and Vessels

Exports in Western Africa

In 2022, shipments abroad of vacuum flasks and vessels increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, vacuum flask and vessel exports expanded rapidly to $X in 2022. In general, exports showed modest growth. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) and Ghana (X units) dominates exports structure, together creating X% of total exports. Benin (X units), Burkina Faso (X units) and Togo (X units) 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 mixed trends in the exports figures.

In value terms, the largest vacuum flask and vessel supplying countries in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Benin ($X), together comprising X% of total exports.

Benin, with a CAGR of X%, saw 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

In 2022, the export price in Western Africa amounted to $X per unit, dropping by X% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2017 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 unit), while Burkina Faso (less than $X per unit) was amongst the lowest.

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

Imports of Vacuum Flasks and Vessels

Imports in Western Africa

In 2022, supplies from abroad of vacuum flasks and vessels decreased by X% to X units, falling for the second year in a row after five years of growth. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, vacuum flask and vessel imports contracted to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the key importer of vacuum flasks and vessels in Western Africa, with the volume of imports accounting for X units, which was near X% of total imports in 2022. Senegal (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Guinea (X%) and Benin (X%). The following importers - Cote d'Ivoire (X units) and Sierra Leone (X units) - together made up X% of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Senegal (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Guinea (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, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Benin, Cote d'Ivoire and Guinea increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Benin, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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, surging by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per unit), while Senegal ($X per unit) 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.

Source: IndexBox Platform

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