ECOWAS: Glass Fibre Filament Market 2025

Glass Fibre Filament Market Size in ECOWAS

After two years of decline, the ECOWAS glass fibre filament market increased by 8.4% to $X in 2021. The total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -42.6% against 2016 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Glass Fibre Filament Production in ECOWAS

In value terms, glass fibre filament production reached $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 33%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Glass Fibre Filament Exports

Exports in ECOWAS

In 2019, approx. X kg of glass fibre filaments were exported in ECOWAS; waning by -99.6% compared with 2018 figures. Overall, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 222%. The volume of export peaked at X tons in 2018, and then shrank rapidly in the following year.

In value terms, glass fibre filament exports contracted significantly to $X in 2019. In general, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2015 with an increase of 575%. The level of export peaked at $X in 2018, and then fell sharply in the following year.

Exports by Country

Nigeria (X kg) represented roughly 100% of total exports in 2019.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of glass fibre filaments. From 2013 to 2019, the share of Nigeria increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

From 2013 to 2019, the average annual rate of growth in terms of value in Nigeria was relatively modest.

Export Prices by Country

In 2019, the export price in ECOWAS amounted to $X per ton, with a decrease of -15.6% against the previous year. Over the period under review, the export price, however, saw a strong expansion. The growth pace was the most rapid in 2015 when the export price increased by 110% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2019, the export prices failed to regain momentum.

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

From 2013 to 2019, the rate of growth in terms of prices for Nigeria amounted to 0.0% per year.

Glass Fibre Filament Imports

Imports in ECOWAS

In 2021, the amount of glass fibre filaments imported in ECOWAS surged to X tons, increasing by 203% against the year before. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 236%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, glass fibre filament imports soared to $X in 2021. In general, imports showed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sierra Leone (X tons) and Ghana (X tons) dominates imports structure, together committing 75% of total imports. Nigeria (X tons) ranks next in terms of the total imports with an 8% share, followed by Senegal (6.8%). The following importers - Cote d'Ivoire (X tons) and Togo (X tons) - each recorded an 8.4% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Sierra Leone (with a CAGR of +122.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2021, together comprising 86% of total imports.

In terms of the main importing countries, Sierra Leone, with a CAGR of +113.9%, 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, with a decrease of -4.1% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 an increase of 103%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform