ECOWAS: Clutch Market 2025

Clutch Market Size in ECOWAS

The ECOWAS clutch market rose significantly to $X in 2022, growing by 8.7% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 -5.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Clutch Production in ECOWAS

In value terms, clutch production rose notably to $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.0% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 47%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Clutch Exports

Exports in ECOWAS

In 2022, the amount of clutches exported in ECOWAS surged to X tons, increasing by 78% against the previous year's figure. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 297%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, clutch exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 202%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the key exporter of clutches in ECOWAS, constituting 96% of total export.

Nigeria was also the fastest-growing in terms of the clutches exports, with a CAGR of +22.2% from 2012 to 2022. Nigeria (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest clutch supplier in ECOWAS.

In Nigeria, clutch exports increased at an average annual rate of +12.0% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, standing approx. at the previous year. In general, the export price, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2013 when the export price increased by 34%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -8.3% per year.

Clutch Imports

Imports in ECOWAS

In 2022, approx. X tons of clutches were imported in ECOWAS; growing by 28% against the previous year's figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 125%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, clutch imports expanded to $X in 2022. Overall, imports enjoyed a perceptible increase. The growth pace was the most rapid in 2013 when imports increased by 135% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the key importer of clutches in ECOWAS, with the volume of imports amounting to X tons, which was near 58% of total imports in 2022. Ghana (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (8.3%). Senegal (X tons), Guinea (X tons) and Gambia (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to clutch imports into Nigeria stood at -2.9%. At the same time, Gambia (+63.0%), Cote d'Ivoire (+21.3%), Senegal (+18.8%), Guinea (+15.6%) and Ghana (+6.0%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +63.0% from 2012-2022. While the share of Ghana (+8.9 p.p.), Cote d'Ivoire (+7.1 p.p.), Senegal (+3.4 p.p.), Guinea (+2.9 p.p.) and Gambia (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-21.7 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 74% share of total imports. Guinea, Senegal and Gambia lagged somewhat behind, together comprising a further 18%.

Guinea, with a CAGR of +19.1%, 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 more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by -18.8% against the previous year. Over the period under review, the import price, however, showed a tangible expansion. The growth pace was the most rapid in 2015 an increase of 62% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the 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 Guinea ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform