ECOWAS: Market for Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips 2024

Market Size for Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips in ECOWAS

The ECOWAS chain scoops and sliders market rose to $X in 2022, surging by 2.4% against the previous year. Over the period under review, consumption, however, saw a notable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips in ECOWAS

In value terms, chain scoops and sliders production rose to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 31% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips

Exports in ECOWAS

In 2022, overseas shipments of chain scoops, sliders, runners, end pieces and narrow strips decreased by -5.5% to X kg, falling for the second year in a row after six years of growth. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 127%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, chain scoops and sliders exports rose sharply to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 78% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X kg) was the key exporter of chain scoops, sliders, runners, end pieces and narrow strips, creating 49% of total exports. Nigeria (X kg) ranks second in terms of the total exports with a 31% share, followed by Sierra Leone (18%). Togo (X kg) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +35.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Sierra Leone ($X) constituted the countries with the highest levels of exports in 2022, with a combined 96% share of total exports.

Nigeria, with a CAGR of +37.1%, saw the highest growth rate of the value of exports, in terms of 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 ECOWAS amounted to $X per ton, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Togo ($X per ton), while Nigeria ($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 (+14.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Chain Scoops, Sliders, Runners, End Pieces And Narrow Strips

Imports in ECOWAS

In 2022, overseas purchases of chain scoops, sliders, runners, end pieces and narrow strips decreased by -4.9% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by 40%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, chain scoops and sliders imports expanded rapidly to $X in 2022. Over the period under review, imports saw a pronounced reduction. The growth pace was the most rapid in 2015 when imports increased by 18%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of chain scoops, sliders, runners, end pieces and narrow strips, namely Nigeria, Cote d'Ivoire, Ghana and Senegal, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chain scoops and sliders importing markets in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together accounting for 77% of total imports. These countries were followed by Senegal, which accounted for a further 18%.

Senegal, with a CAGR of +17.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by 11% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chain scoops and sliders import price increased by +72.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 42% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Nigeria ($X per ton), while Ghana ($X per ton) and Senegal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+8.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform