ECOWAS: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in ECOWAS

The ECOWAS articles of fiber cement market rose modestly to $X in 2022, growing by 3% against the previous year. Over the period under review, consumption, however, showed a perceptible decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in ECOWAS

In value terms, articles of fiber cement production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 12%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports in ECOWAS

In 2022, shipments abroad of articles of asbestos-cement, cellulose fiber-cement or the like increased by 20% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2014 with an increase of 69%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, articles of fiber cement exports dropped slightly to $X in 2022. Over the period under review, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 22%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the key exporter of articles of asbestos-cement, cellulose fiber-cement or the like, mixing up 76% of total exports. It was distantly followed by Cote d'Ivoire (X tons) and Togo (X tons), together achieving a 19% share of total exports. Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to articles of fiber cement exports from Nigeria stood at -4.9%. At the same time, Cote d'Ivoire (+11.2%) and Togo (+4.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +11.2% from 2012-2022. By contrast, Ghana (-5.7%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+11 p.p.) and Togo (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest articles of fiber cement supplying countries in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 90% of total exports. These countries were followed by Togo, which accounted for a further 7.5%.

In terms of the main exporting countries, Togo, with a CAGR of +1.4%, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by -16.8% against the previous year. Overall, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when the export price increased by 55%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Ghana ($X per ton), while Nigeria ($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 (+0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports in ECOWAS

In 2022, the amount of articles of asbestos-cement, cellulose fiber-cement or the like imported in ECOWAS rose significantly to X tons, picking up by 12% against the previous year's figure. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by 143% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, articles of fiber cement imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 86% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons) was the main importer of articles of asbestos-cement, cellulose fiber-cement or the like, generating 46% of total imports. Senegal (X tons) ranks second in terms of the total imports with a 23% share, followed by Benin (15%) and Nigeria (7.2%). Togo (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to articles of fiber cement imports into Ghana stood at +17.7%. At the same time, Senegal (+39.8%), Cabo Verde (+12.2%), Nigeria (+10.4%) and Benin (+6.2%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.8% from 2012-2022. By contrast, Togo (-8.1%) illustrated a downward trend over the same period. Senegal (+20 p.p.) and Ghana (+19 p.p.) significantly strengthened its position in terms of the total imports, while Benin and Togo saw its share reduced by -9.7% and -20.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, together comprising 77% of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +37.1%, saw 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

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of 10% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 26% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform