ECOWAS: Manostat Market 2024

Manostat Market Size in ECOWAS

The ECOWAS manostat market dropped slightly to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 -12.0% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Manostat Production in ECOWAS

In value terms, manostat production rose notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2016 with an increase of 70% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Manostat Exports

Exports in ECOWAS

Manostat exports fell notably to X units in 2022, waning by -37.7% on the previous year. Over the period under review, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2015 with an increase of 186% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, manostat exports shrank notably to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 78%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Nigeria (X units), Ghana (X units), Senegal (X units) and Sierra Leone (X units), together reaching 87% of total export. It was distantly followed by Cote d'Ivoire (X units) and Niger (X units), together mixing up a 13% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of +25.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest manostat supplier in ECOWAS, comprising 50% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 24% share of total exports. It was followed by Ghana, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at +4.6%. In the other countries, the average annual rates were as follows: Nigeria (-6.5% per year) and Ghana (+19.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, picking up by 33% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2014 when the export price increased by 175% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 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 Senegal ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+9.4%), while the other leaders experienced more modest paces of growth.

Manostat Imports

Imports in ECOWAS

Manostat imports surged to X units in 2022, jumping by 139% compared with the previous year. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 197%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, manostat imports soared to $X in 2022. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 209% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X units, which was near 72% of total imports in 2022. It was distantly followed by Ghana (X units), comprising an 8.1% share of total imports. The following importers - Burkina Faso (X units), Senegal (X units), Gambia (X units), Cote d'Ivoire (X units) and Guinea (X units) - together made up 15% of total imports.

Imports into Nigeria increased at an average annual rate of +6.1% from 2012 to 2022. At the same time, Guinea (+36.8%), Ghana (+17.2%), Gambia (+17.1%), Cote d'Ivoire (+15.4%), Senegal (+8.6%) and Burkina Faso (+2.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +36.8% from 2012-2022. While the share of Ghana (+5 p.p.) and Guinea (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (-2 p.p.) and Nigeria (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported manostats in ECOWAS, comprising 55% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Ghana, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to +3.1%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+13.0% per year) and Ghana (+18.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, declining by -26.2% against the previous year. Over the period under review, the import price continues to indicate a mild descent. The most prominent rate of growth was recorded in 2013 an increase of 216% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

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 Cote d'Ivoire ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform