ECOWAS: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in ECOWAS

In 2022, the ECOWAS market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 0.5% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption, however, recorded a perceptible reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in ECOWAS

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports in ECOWAS

In 2022, the amount of glaziers putty, grafting putty, other mastics and painters' fillings exported in ECOWAS reduced rapidly to X tons, with a decrease of -27.8% against the year before. In general, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 113% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings contracted remarkably to $X in 2022. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons) was the main exporter of glaziers putty, grafting putty, other mastics and painters' fillings, making up 60% of total exports. Cote d'Ivoire (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (10%) and Nigeria (9.2%).

From 2012 to 2022, average annual rates of growth with regard to glaziers, grafting putty and painters' filling exports from Ghana stood at +28.8%. At the same time, Nigeria (+32.4%) and Senegal (+6.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +32.4% from 2012-2022. By contrast, Cote d'Ivoire (-19.0%) illustrated a downward trend over the same period. Ghana (+57 p.p.), Nigeria (+8.9 p.p.) and Senegal (+7 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -69.8% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest glaziers, grafting putty and painters' filling supplier in ECOWAS, comprising 44% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 21% share of total exports. It was followed by Nigeria, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled +26.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-29.4% per year) and Nigeria (+37.0% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with an increase of 7.7% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 43%. As a result, the export price attained the peak level of $X per ton. From 2014 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 Nigeria ($X per ton), while Ghana ($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 (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports in ECOWAS

In 2022, overseas purchases of glaziers putty, grafting putty, other mastics and painters' fillings increased by 14% to X tons, rising for the sixth year in a row after three years of decline. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 70%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings contracted to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.1% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the key importer of glaziers putty, grafting putty, other mastics and painters' fillings, committing 43% of total imports. Benin (X tons) ranks second in terms of the total imports with a 14% share, followed by Ghana (13%), Senegal (7.9%) and Cote d'Ivoire (7.1%). The following importers - Liberia (X tons) and Guinea (X tons) - each reached a 5.7% share of total imports.

Imports into Nigeria increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Benin (+31.1%), Senegal (+20.7%), Liberia (+19.5%), Cote d'Ivoire (+18.5%) and Ghana (+1.6%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +31.1% from 2012-2022. By contrast, Guinea (-5.9%) illustrated a downward trend over the same period. Benin (+12 p.p.), Senegal (+5.6 p.p.), Cote d'Ivoire (+4.7 p.p.) and Liberia (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Guinea, Ghana and Nigeria saw its share reduced by -6.5%, -7.8% and -8.4% from 2012 to 2022, respectively.

In value terms, the largest glaziers, grafting putty and painters' filling importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Senegal ($X), together comprising 74% of total imports.

Senegal, with a CAGR of +17.1%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by -17.9% against the previous year. In general, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by 28%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 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 Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform