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

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

The ECOWAS high-tenacity filament polyester yarn market rose modestly to $X in 2021, with an increase of 3.2% against the previous year. Over the period under review, consumption, however, recorded mild growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of High-Tenacity Filament Yarn Of Polyesters in ECOWAS

In value terms, high-tenacity filament polyester yarn production declined modestly to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 31%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports in ECOWAS

In 2021, exports of high-tenacity filament yarn of polyesters in ECOWAS fell rapidly to X tons, which is down by -59.7% on the previous year's figure. In general, exports saw a sharp downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 153%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, high-tenacity filament polyester yarn exports contracted sharply to $X in 2021. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 476%. The level of export peaked at $X in 2020, and then declined sharply in the following year.

Exports by Country

In 2021, Ghana (X tons) represented the largest exporter of high-tenacity filament yarn of polyesters, generating 87% of total exports. It was distantly followed by Nigeria (X kg), comprising a 13% share of total exports.

Ghana was also the fastest-growing in terms of the high-tenacity filament yarn of polyesters exports, with a CAGR of +47.8% from 2012 to 2021. Nigeria (-39.1%) illustrated a downward trend over the same period. While the share of Ghana (+87 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-86.7 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest high-tenacity filament polyester yarn supplier in ECOWAS, comprising 94% of total exports. The second position in the ranking was held by Nigeria ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Ghana totaled +54.6%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -65.7% against the previous year. Overall, the export price, however, showed a prominent increase. The pace of growth appeared the most rapid in 2020 when the export price increased by 260% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.9%).

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports in ECOWAS

In 2021, approx. X tons of high-tenacity filament yarn of polyesters were imported in ECOWAS; flattening at the previous year's figure. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 53%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, high-tenacity filament polyester yarn imports skyrocketed to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.3% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 49% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) were the key importers of high-tenacity filament yarn of polyesters in 2021, accounting for near 34% and 30% of total imports, respectively. Togo (X tons) took the next position in the ranking, followed by Nigeria (X tons), Benin (X tons) and Guinea (X tons). All these countries together took approx. 32% share of total imports. Senegal (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported high-tenacity filament yarn of polyesters in ECOWAS, comprising 48% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 21% share of total imports. It was followed by Togo, with a 9.9% share.

In Ghana, high-tenacity filament polyester yarn imports expanded at an average annual rate of +25.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+3.0% per year) and Togo (-6.9% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, increasing by 28% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform