ECOWAS: Check Valve Market 2024

Check Valve Market Size in ECOWAS

In 2021, the ECOWAS check valve market increased by 9.2% to $X, rising for the third year in a row after two years of decline. In general, consumption showed prominent growth. The level of consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Check Valve Production in ECOWAS

In value terms, check valve production dropped markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 268%. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Check Valve Exports

Exports in ECOWAS

After two years of growth, overseas shipments of check valves for pipes, boiler shells, tanks and vats decreased by -30.8% to X units in 2021. Over the period under review, exports, however, enjoyed a notable expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 145% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, check valve exports reduced remarkably to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then fell markedly in the following year.

Exports by Country

In 2021, Mali (X units) represented the major exporter of check valves for pipes, boiler shells, tanks and vats, mixing up 58% of total exports. Togo (X units) took the second position in the ranking, followed by Niger (X units), Cote d'Ivoire (X units) and Senegal (X units). All these countries together took near 35% share of total exports. Nigeria (X units) and Ghana (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to check valve exports from Mali stood at +27.3%. At the same time, Togo (+30.6%), Niger (+17.5%) and Cote d'Ivoire (+14.3%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +30.6% from 2012-2021. By contrast, Ghana (-10.0%), Senegal (-11.8%) and Nigeria (-18.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mali, Togo, Niger and Cote d'Ivoire increased by +48, +10, +6.5 and +4.5 percentage points, respectively.

In value terms, Mali ($X) remains the largest check valve supplier in ECOWAS, comprising 47% of total exports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total exports. It was followed by Niger, with a 14% share.

In Mali, check valve exports increased at an average annual rate of +23.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-4.0% per year) and Niger (+16.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, increasing by 5.9% against the previous year. Over the period under review, the export price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2014 when the export price increased by 191%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.7%), while the other leaders experienced more modest paces of growth.

Check Valve Imports

Imports in ECOWAS

In 2021, purchases abroad of check valves for pipes, boiler shells, tanks and vats increased by 17% to X units, rising for the third consecutive year after two years of decline. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 70% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, check valve imports surged to $X in 2021. Overall, imports recorded strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, resulting at X units, which was near 76% of total imports in 2021. It was distantly followed by Ghana (X units), constituting a 9.8% share of total imports. Senegal (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Senegal (+14.9%), Ghana (+11.5%) and Cote d'Ivoire (+1.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +14.9% from 2012-2021. While the share of Ghana (+2.6 p.p.) and Senegal (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported check valves for pipes, boiler shells, tanks and vats in ECOWAS, comprising 77% of total imports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +15.7%. In the other countries, the average annual rates were as follows: Ghana (+5.3% per year) and Cote d'Ivoire (-2.4% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, rising by 51% against the previous year. In general, the import price showed a pronounced increase. The most prominent rate of growth was recorded in 2013 when the import price increased by 75%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+7.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform