ECOWAS: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2024

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in ECOWAS

The ECOWAS market for blankets and travelling rugs of synthetic fibres stood at $X in 2022, stabilizing at the previous year. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in ECOWAS

In value terms, travelling rugs of synthetic fibre production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports in ECOWAS

Travelling rugs of synthetic fibre exports rose markedly to X units in 2022, growing by 6% compared with 2021 figures. In general, exports, however, recorded a deep slump. The growth pace was the most rapid in 2019 when exports increased by 61% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling rugs of synthetic fibre exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a deep setback. The growth pace was the most rapid in 2019 with an increase of 88%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the main exporter of blankets and travelling rugs of synthetic fibres in ECOWAS, with the volume of exports amounting to X units, which was approx. 65% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X units), Senegal (X units), Nigeria (X units) and Togo (X units), together comprising a 33% share of total exports. Liberia (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to travelling rugs of synthetic fibre exports from Ghana stood at +14.6%. At the same time, Liberia (+46.5%) and Cote d'Ivoire (+17.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +46.5% from 2012-2022. By contrast, Nigeria (-19.2%), Togo (-21.0%) and Senegal (-24.5%) illustrated a downward trend over the same period. Ghana (+59 p.p.), Cote d'Ivoire (+11 p.p.) and Liberia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria, Togo and Senegal saw its share reduced by -9.6%, -11.4% and -49% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest travelling rugs of synthetic fibre supplier in ECOWAS, comprising 81% of total exports. The second position in the ranking was held by Senegal ($X), with a 12% share of total exports. It was followed by Cote d'Ivoire, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at +28.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-20.1% per year) and Cote d'Ivoire (+21.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, surging by 30% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+11.7%), while the other leaders experienced more modest paces of growth.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports in ECOWAS

Travelling rugs of synthetic fibre imports contracted to X units in 2022, with a decrease of -14.9% on 2021 figures. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +63.9% against 2014 indices. The growth pace was the most rapid in 2021 when imports increased by 25%. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, travelling rugs of synthetic fibre imports declined to $X in 2022. In general, imports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

The countries with the highest levels of travelling rugs of synthetic fibre imports in 2022 were Benin (X units), Ghana (X units) and Togo (X units), together reaching 63% of total import. It was distantly followed by Guinea (X units), Niger (X units), Cote d'Ivoire (X units) and Senegal (X units), together making up a 31% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +33.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest travelling rugs of synthetic fibre importing markets in ECOWAS were Ghana ($X), Togo ($X) and Benin ($X), with a combined 67% share of total imports. Guinea, Cote d'Ivoire, Senegal and Niger lagged somewhat behind, together comprising a further 27%.

Among the main importing countries, Niger, with a CAGR of +21.1%, recorded the highest growth rate of 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 unit, surging by 1.6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 23% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 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 Senegal ($X per unit), while Niger ($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 (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform