ECOWAS: Market for Non-Upholstered Seats With Metal Frames 2024

Market Size for Non-Upholstered Seats With Metal Frames in ECOWAS

The ECOWAS metal frame non-upholstered seat market rose slightly to $X in 2021, picking up by 4.2% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +112.6% against 2012 indices. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Production of Non-Upholstered Seats With Metal Frames in ECOWAS

In value terms, metal frame non-upholstered seat production fell to $X in 2021 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped slightly in the following year.

Exports of Non-Upholstered Seats With Metal Frames

Exports in ECOWAS

In 2021, overseas shipments of non-upholstered seats with metal frames were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 98% against the previous year. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, metal frame non-upholstered seat exports soared to $X in 2021. Overall, exports continue to indicate buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana (X units) and Senegal (X units) prevails in exports structure, together committing 90% of total exports. Liberia (X units), Cote d'Ivoire (X units) and Niger (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +19.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest metal frame non-upholstered seat supplier in ECOWAS, comprising 48% of total exports. The second position in the ranking was taken by Liberia ($X), with a 9.8% share of total exports. It was followed by Ghana, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Liberia (+13.3% per year) and Ghana (-3.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, waning by -13.8% against the previous year. Over the period under review, the export price, however, saw perceptible growth. The growth pace was the most rapid in 2016 when the export price increased by 57% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+40.0%), while the other leaders experienced more modest paces of growth.

Imports of Non-Upholstered Seats With Metal Frames

Imports in ECOWAS

After two years of decline, overseas purchases of non-upholstered seats with metal frames increased by 55% to X units in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 135% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, metal frame non-upholstered seat imports surged to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 109%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Ghana (X units) represented the major importer of non-upholstered seats with metal frames, comprising 56% of total imports. Senegal (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units). All these countries together held approx. 31% share of total imports. Togo (X units), Guinea (X units) and Niger (X units) took a little share of total imports.

Imports into Ghana increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, Cote d'Ivoire (+20.7%) and Senegal (+19.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +20.7% from 2012-2021. By contrast, Niger (-5.0%), Guinea (-7.2%) and Togo (-21.1%) illustrated a downward trend over the same period. Ghana (+25 p.p.), Senegal (+13 p.p.) and Cote d'Ivoire (+12 p.p.) significantly strengthened its position in terms of the total imports, while Togo saw its share reduced by -23.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported non-upholstered seats with metal frames in ECOWAS, comprising 48% of total imports. The second position in the ranking was taken by Senegal ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana amounted to +13.2%. In the other countries, the average annual rates were as follows: Senegal (+23.1% per year) and Cote d'Ivoire (+23.4% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, with an increase of 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2013 when the import price increased by 48%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 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 Guinea ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform