Western Africa: Glass Fiber Market 2024

Glass Fiber Market Size in Western Africa

The West African glass fiber market fell to $X in 2022, reducing by X% against the previous year. Overall, consumption saw a noticeable shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Glass Fiber Production in Western Africa

In value terms, glass fiber production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable downturn. The growth pace was the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Glass Fiber Exports

Exports in Western Africa

In 2022, the amount of voiles, webs, mats and other articles of glass fibers exported in Western Africa dropped markedly to X tons, reducing by X% compared with the previous year. Over the period under review, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, glass fiber exports dropped significantly to $X in 2022. Overall, exports saw a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Ghana (X tons) and Togo (X tons) prevails in exports structure, together constituting X% of total exports. It was distantly followed by Senegal (X kg), making up a X% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X) remains the largest glass fiber supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled X%. In the other countries, the average annual rates were as follows: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 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 a decline in the export price figures.

Glass Fiber Imports

Imports in Western Africa

In 2022, after two years of growth, there was significant decline in purchases abroad of voiles, webs, mats and other articles of glass fibers, when their volume decreased by X% to X tons. Total imports indicated moderate growth 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 2017 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, glass fiber imports reduced rapidly to $X in 2022. In general, imports, however, continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Ghana (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Senegal (X tons), comprising a X% share of total imports. Togo (X tons), Mauritania (X tons) and Liberia (X tons) held a relatively small share of total imports.

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

In value terms, the largest glass fiber importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Togo, Liberia and Mauritania lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Liberia, with a CAGR of X%, recorded the highest rates of growth with regard to 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, with a decrease of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 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 Liberia ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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