ECOWAS: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in ECOWAS

The ECOWAS high-tenacity filament aramids yarn market fell slightly to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.6% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Aramids in ECOWAS

In value terms, high-tenacity filament aramids yarn production dropped to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 30%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in ECOWAS

In 2022, high-tenacity filament aramids yarn exports in ECOWAS contracted markedly to X tons, shrinking by -36.1% compared with the previous year's figure. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 1,178% against the previous year. The volume of export peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, high-tenacity filament aramids yarn exports reduced markedly to $X in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,405% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Niger (X tons) represented roughly 100% of total exports in 2022.

Niger was also the fastest-growing in terms of the high-tenacity filament yarn of aramids exports, with a CAGR of +32.6% from 2012 to 2022. While the share of Niger (+17 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) also remains the largest high-tenacity filament aramids yarn supplier in ECOWAS.

In Niger, high-tenacity filament aramids yarn exports increased at an average annual rate of +38.3% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, approximately mirroring the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, high-tenacity filament aramids yarn export price increased by +67.9% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by 49%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then shrank slightly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to +4.3% per year.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in ECOWAS

In 2022, approx. X kg of high-tenacity filament yarn of aramids were imported in ECOWAS; which is down by -43.7% against 2021 figures. Overall, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 when imports increased by 726%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn imports contracted dramatically to $X in 2022. Over the period under review, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 when imports increased by 813%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of high-tenacity filament aramids yarn imports in 2022 were Nigeria (X kg), together reaching 99% of total import.

Nigeria was also the fastest-growing in terms of the high-tenacity filament yarn of aramids imports, with a CAGR of -10.9% from 2012 to 2022. Nigeria (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in ECOWAS.

In Nigeria, high-tenacity filament aramids yarn imports decreased by an average annual rate of -2.1% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, remaining stable against the previous year. Overall, the import price, however, showed strong growth. The pace of growth appeared the most rapid in 2017 when the import price increased by 115%. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then fell slightly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +9.8% per year.

Source: IndexBox Platform