ECOWAS: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in ECOWAS

The ECOWAS market for drawn glass and blown glass rose slightly to $X in 2021, increasing by 3.7% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Drawn Glass And Blown Glass in ECOWAS

In value terms, drawn glass and blown glass production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced reduction. The growth pace was the most rapid in 2016 when the production volume increased by 394%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Drawn Glass And Blown Glass

Exports in ECOWAS

In 2021, shipments abroad of drawn glass and blown glass increased by 5,963% to X square meters, rising for the second consecutive year after two years of decline. Overall, exports showed significant growth. The volume of export peaked at X square meters in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, drawn glass and blown glass exports surged to $X in 2021. In general, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana prevails in exports structure, reaching X square meters, which was near 95% of total exports in 2021. It was distantly followed by Nigeria (X square meters), mixing up a 5.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to drawn glass and blown glass exports from Ghana stood at +1.7%. At the same time, Nigeria (+35.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +35.0% from 2012-2021. While the share of Ghana (+95 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest drawn glass and blown glass supplier in ECOWAS, comprising 88% of total exports. The second position in the ranking was taken by Ghana ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +41.2%.

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2021, declining by -95% against the previous year. In general, the export price saw a deep slump. The most prominent rate of growth was recorded in 2018 when the export price increased by 20,551% against the previous year. Over the period under review, the export prices attained the peak figure at $X per square meter in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per square meter), while Ghana stood at less than $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+34.4%).

Imports of Drawn Glass And Blown Glass

Imports in ECOWAS

In 2021, approx. X square meters of drawn glass and blown glass were imported in ECOWAS; jumping by 39% compared with the previous year's figure. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 1,206% against the previous year. As a result, imports attained the peak of X square meters. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, drawn glass and blown glass imports surged to $X in 2021. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 641% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of drawn glass and blown glass imports in 2021 were Mali (X square meters), Ghana (X square meters), Liberia (X square meters), Sierra Leone (X square meters), Togo (X square meters), Burkina Faso (X square meters) and Senegal (X square meters), together accounting for 89% of total import.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +86.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported drawn glass and blown glass in ECOWAS, comprising 39% of total imports. The second position in the ranking was held by Liberia ($X), with a 20% share of total imports. It was followed by Sierra Leone, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in Ghana stood at +48.1%. The remaining importing countries recorded the following average annual rates of imports growth: Liberia (+26.5% per year) and Sierra Leone (+14.3% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per square meter in 2021, increasing by 8% against the previous year. In general, the import price saw significant growth. The growth pace was the most rapid in 2016 an increase of 190% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per square meter), while Mali ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+30.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform