ECOWAS: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in ECOWAS

In 2022, the ECOWAS glass in the mass market increased by 16% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Glass in The Mass in ECOWAS

In value terms, glass in the mass production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 23% against the previous year. Over the period under review, glass in mass production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Glass in The Mass

Exports in ECOWAS

After two years of growth, shipments abroad of glass in the mass decreased by -17.6% to X tons in 2022. Over the period under review, exports, however, showed a notable expansion. The growth pace was the most rapid in 2017 when exports increased by 82% against the previous year. The volume of export peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, glass in the mass exports dropped to $X in 2022. Overall, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 101% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Ghana (X tons) represented the largest exporter of glass in the mass, comprising 58% of total exports. Benin (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (10%), Cote d'Ivoire (9.3%) and Togo (6.7%).

Exports from Ghana increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, Benin (+30.6%), Togo (+16.0%) and Burkina Faso (+8.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +30.6% from 2012-2022. By contrast, Cote d'Ivoire (-6.4%) illustrated a downward trend over the same period. While the share of Benin (+13 p.p.), Ghana (+8.3 p.p.), Togo (+4.4 p.p.) and Burkina Faso (+3.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-17.8 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest glass in the mass supplier in ECOWAS, comprising 71% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 11% share of total exports. It was followed by Benin, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at +9.8%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-4.7% per year) and Benin (+28.0% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by 3.4% against the previous year. In general, the export price saw a mild increase. The growth pace was the most rapid in 2020 when the export price increased by 16%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+21.4%), while the other leaders experienced more modest paces of growth.

Imports of Glass in The Mass

Imports in ECOWAS

In 2022, supplies from abroad of glass in the mass increased by 11% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports showed strong growth. The pace of growth was the most pronounced in 2017 when imports increased by 534% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, glass in the mass imports skyrocketed to $X in 2022. In general, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 547%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Togo dominates imports structure, amounting to X tons, which was near 77% of total imports in 2022. It was distantly followed by Nigeria (X tons), comprising a 9.8% share of total imports. Benin (X tons), Cabo Verde (X tons), Ghana (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glass in the mass imports into Togo stood at +32.8%. At the same time, Cabo Verde (+67.7%), Senegal (+25.9%) and Benin (+17.5%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +67.7% from 2012-2022. By contrast, Nigeria (-2.1%) and Ghana (-9.3%) illustrated a downward trend over the same period. Togo (+62 p.p.) and Cabo Verde (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by -26.2% and -30.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cabo Verde ($X) constitutes the largest market for imported glass in the mass in ECOWAS, comprising 41% of total imports. The second position in the ranking was held by Togo ($X), with a 17% share of total imports. It was followed by Nigeria, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Cabo Verde stood at +66.6%. The remaining importing countries recorded the following average annual rates of imports growth: Togo (+16.6% per year) and Nigeria (+2.5% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of 19% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The pace of growth was the most pronounced in 2019 an increase of 39%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform