ECOWAS: Metallised Yarn Market 2024

Metallised Yarn Market Size in ECOWAS

The ECOWAS metallised yarn market shrank notably to $X in 2021, declining by -43.7% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Metallised Yarn Production in ECOWAS

In value terms, metallised yarn production rose sharply to $X in 2021 estimated in export price. In general, production continues to indicate a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 300%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Metallised Yarn Exports

Exports in ECOWAS

In 2021, overseas shipments of metallised yarn and strip were finally on the rise to reach X kg after two years of decline. In general, exports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 2,127%. The volume of export peaked at X kg in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, metallised yarn exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt curtailment. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Mali was the major exporting country with an export of about X kg, which amounted to 75% of total exports. It was distantly followed by Nigeria (X kg), achieving a 25% share of total exports.

Mali experienced a relatively flat trend pattern with regard to volume of exports of metallised yarn and strip. At the same time, Nigeria (+11.2%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +11.2% from 2012-2021. While the share of Mali (+75 p.p.) and Nigeria (+18 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) emerged as the largest metallised yarn supplier in ECOWAS, comprising 93% of total exports. The second position in the ranking was held by Nigeria ($X), with a 6.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mali was relatively modest.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, increasing by 208% against the previous year. In general, the export price, however, showed a abrupt downturn. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Mali ($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 (-12.9%).

Metallised Yarn Imports

Imports in ECOWAS

In 2021, overseas purchases of metallised yarn and strip decreased by -74.8% to X tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 1,558%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metallised yarn imports shrank rapidly to $X in 2021. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 61% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Benin (X tons), constituting a 6.7% share of total imports. Ghana (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to metallised yarn imports into Nigeria stood at -7.5%. At the same time, Ghana (+6.9%) and Benin (+3.1%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +6.9% from 2012-2021. While the share of Benin (+4.2 p.p.) and Ghana (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported metallised yarn and strip in ECOWAS, comprising 67% of total imports. The second position in the ranking was held by Benin ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to -8.2%. The remaining importing countries recorded the following average annual rates of imports growth: Benin (-1.1% per year) and Ghana (+14.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 59% against the previous year. In general, the import price, however, saw a mild slump. The pace of growth appeared the most rapid in 2014 when the import price increased by 101%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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 Ghana (+7.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform