Report Update Nov 1, 2024

ECOWAS - Artificial Staple Fibres - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Artificial Staple Fibre Market 2024

Artificial Staple Fibre Market Size in ECOWAS

The ECOWAS artificial staple fibre market contracted sharply to $X in 2021, which is down by -28.6% against the previous year. In general, consumption saw a mild slump. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Artificial Staple Fibre Production in ECOWAS

In value terms, artificial staple fibre production contracted rapidly to $X in 2021 estimated in export price. Over the period under review, production recorded a slight descent. The pace of growth was the most pronounced in 2020 with an increase of 127% against the previous year. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Artificial Staple Fibre Exports

Exports in ECOWAS

In 2017, overseas shipments of artificial staple fibres decreased by -44.6% to X kg, falling for the second year in a row after two years of decline. In general, exports recorded a deep slump. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2017, the exports failed to regain momentum.

In value terms, artificial staple fibre exports totaled $X in 2017. Overall, exports continue to indicate a significant contraction. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2017, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Togo (X kg), together amounting to 100% of total export.

Togo was also the fastest-growing in terms of the artificial staple fibres exports, with a CAGR of +61.0% from 2013 to 2017. While the share of Togo (+91 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2013 to 2017, the average annual growth rate of value in Togo totaled +90.9%.

Export Prices by Country

In 2017, the export price in ECOWAS amounted to $X per ton, growing by 81% against the previous year. In general, the export price, however, faced a abrupt slump. The growth pace was the most rapid in 2016 when the export price increased by 81%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2017, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Togo.

From 2013 to 2017, the rate of growth in terms of prices for Togo amounted to +18.5% per year.

Artificial Staple Fibre Imports

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in overseas purchases of artificial staple fibres, when their volume decreased by -43.5% to X tons. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 118% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, artificial staple fibre imports contracted remarkably to $X in 2021. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 149%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of about X tons, which accounted for 60% of total imports. It was distantly followed by Senegal (X tons), mixing up a 38% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +14.4%).

In value terms, Nigeria ($X) constitutes the largest market for imported artificial staple fibres in ECOWAS, comprising 74% of total imports. The second position in the ranking was taken by Senegal ($X), with a 23% share of total imports.

In Nigeria, artificial staple fibre imports expanded at an average annual rate of +18.2% over the period from 2012-2021.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, rising by 23% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, artificial staple fibre import price increased by +34.3% against 2018 indices. The growth pace was the most rapid in 2014 when the import price increased by 25% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.8%).

Source: IndexBox Platform

This report provides an in-depth analysis of the artificial staple fibre market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 13103200 - Artificial staple fibres, carded, combed or otherwise processed for spinning

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023