ECOWAS: Market for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides 2024

Market Size for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in ECOWAS

The ECOWAS high-tenacity filament nylon yarn market rose significantly to $X in 2022, with an increase of 5.9% against the previous year. Overall, consumption posted a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in ECOWAS

In value terms, high-tenacity filament nylon yarn production expanded markedly to $X in 2022 estimated in export price. Overall, production showed resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 70% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Exports in ECOWAS

In 2022, shipments abroad of high-tenacity filament yarn of nylon or other polyamides was finally on the rise to reach X tons after three years of decline. Overall, exports, however, faced a dramatic descent. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, high-tenacity filament nylon yarn exports skyrocketed to $X in 2022. In general, exports, however, showed a sharp downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 102% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons) and Sierra Leone (X tons) represented roughly 78% of total exports in 2022. It was distantly followed by Nigeria (X kg), comprising a 21% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Senegal (with a CAGR of -8.1%), while the other leaders experienced a decline in the exports figures.

In value terms, Sierra Leone ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

Among the main exporting countries, Sierra Leone, with a CAGR of -12.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -33.8% against the previous year. In general, the export price, however, showed a moderate expansion. The growth pace was the most rapid in 2015 an increase of 118% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal ($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 (+11.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Imports in ECOWAS

In 2022, the amount of high-tenacity filament yarn of nylon or other polyamides imported in ECOWAS contracted sharply to X tons, declining by -85.3% on 2021. Overall, imports showed a precipitous descent. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, high-tenacity filament nylon yarn imports dropped sharply to $X in 2022. Over the period under review, imports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Senegal (X tons) was the largest importer of high-tenacity filament yarn of nylon or other polyamides, comprising 64% of total imports. Nigeria (X tons) held the second position in the ranking, distantly followed by Ghana (X tons). All these countries together held approx. 23% share of total imports. Guinea (X tons), Togo (X tons), Gambia (X tons) and Cabo Verde (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to high-tenacity filament nylon yarn imports into Senegal stood at +6.7%. At the same time, Cabo Verde (+30.7%), Gambia (+18.2%) and Ghana (+11.1%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +30.7% from 2012-2022. By contrast, Guinea (-20.0%), Nigeria (-26.0%) and Togo (-43.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Ghana, Gambia and Cabo Verde increased by +61, +5.7, +1.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported high-tenacity filament yarn of nylon or other polyamides in ECOWAS, comprising 59% of total imports. The second position in the ranking was held by Nigeria ($X), with an 18% share of total imports. It was followed by Guinea, with a 7.5% share.

In Senegal, high-tenacity filament nylon yarn imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (-26.5% per year) and Guinea (-8.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by 7.4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 53%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform