ECOWAS: Market for Rubber-to-Metal and Moulded Articles 2025

Exports of Rubber-to-Metal and Moulded Articles

Exports in ECOWAS

In 2021, rubber-to-metal and moulded article exports in ECOWAS declined remarkably to X tons, reducing by -67.2% against the previous year's figure. In general, exports saw a abrupt descent. The growth pace was the most rapid in 2020 with an increase of 89% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, rubber-to-metal and moulded article exports fell dramatically to $X in 2021. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 60%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Nigeria (X tons) represented the largest exporter of rubber-to-metal and moulded articles, making up 41% of total exports. It was distantly followed by Niger (X tons), Sierra Leone (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together achieving a 52% share of total exports. Togo (X kg) and Senegal (X kg) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of +22.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X), Niger ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 63% of total exports.

Niger, with a CAGR of +11.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, increasing by 35% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 93%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+13.2%), while the other leaders experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports in ECOWAS

In 2021, overseas purchases of rubber-to-metal and moulded articles increased by 42% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 60%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article imports surged to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 59%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Ghana was the main importing country with an import of about X tons, which reached 42% of total imports. Nigeria (X tons) held the second position in the ranking, distantly followed by Sierra Leone (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Guinea (X tons). All these countries together took near 47% share of total imports. Liberia (X tons) took a minor share of total imports.

Imports into Ghana increased at an average annual rate of +9.2% from 2012 to 2021. At the same time, Sierra Leone (+28.8%), Senegal (+6.6%) and Liberia (+3.3%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +28.8% from 2012-2021. By contrast, Guinea (-2.5%), Cote d'Ivoire (-4.6%) and Nigeria (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Sierra Leone and Senegal increased by +23, +7.1 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rubber-to-metal and moulded article importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined 58% share of total imports. These countries were followed by Senegal, Guinea, Liberia and Sierra Leone, which together accounted for a further 25%.

In terms of the main importing countries, Liberia, with a CAGR of +18.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 4.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 19%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform