ECOWAS: Flat Glass Market 2024

Flat Glass Market Size in ECOWAS

The ECOWAS flat glass market shrank to $X in 2021, which is down by -10.2% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Flat Glass Production in ECOWAS

In value terms, flat glass production contracted to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +9.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 29%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Flat Glass Exports

Exports in ECOWAS

In 2021, the amount of flat glass exported in ECOWAS surged to X tons, rising by 303% compared with the year before. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 570% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, flat glass exports skyrocketed to $X in 2021. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 306% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

Nigeria prevails in exports structure, recording X tons, which was approx. 94% of total exports in 2021. Senegal (X tons) and Ghana (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the flat glass exports, with a CAGR of +42.8% from 2012 to 2021. At the same time, Ghana (+27.1%) and Senegal (+19.7%) displayed positive paces of growth. While the share of Nigeria (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-2.6 p.p.) and Senegal (-10.7 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest flat glass supplier in ECOWAS, comprising 87% of total exports. The second position in the ranking was held by Ghana ($X), with a 6.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +28.4%. In the other countries, the average annual rates were as follows: Ghana (+28.2% per year) and Senegal (+8.9% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, reducing by -32.6% against the previous year. In general, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2013 when the export price increased by 33%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+0.9%), while the other leaders experienced a decline in the export price figures.

Flat Glass Imports

Imports in ECOWAS

In 2021, approx. X tons of flat glass were imported in ECOWAS; with a decrease of -7.5% on the previous year. In general, imports recorded a noticeable decline. The most prominent rate of growth was recorded in 2019 when imports increased by 47%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, flat glass imports skyrocketed to $X in 2021. Overall, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 44% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cote d'Ivoire (X tons) and Ghana (X tons) were the key importers of flat glass in ECOWAS, together constituting 46% of total imports. Guinea (X tons) ranks next in terms of the total imports with a 14% share, followed by Senegal (13%), Sierra Leone (5.6%) and Burkina Faso (5.4%). Liberia (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +22.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Guinea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 62% of total imports. These countries were followed by Sierra Leone, Senegal, Liberia and Burkina Faso, which together accounted for a further 26%.

Among the main importing countries, Sierra Leone, with a CAGR of +32.8%, 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

The import price in ECOWAS stood at $X per ton in 2021, rising by 25% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 when the import price increased by 29% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform