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

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

The ECOWAS wooden frame non-upholstered seat market expanded sharply to $X in 2022, increasing by 5.3% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Non-Upholstered Seats With Wooden Frames in ECOWAS

In value terms, wooden frame non-upholstered seat production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 26% 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.

Exports of Non-Upholstered Seats With Wooden Frames

Exports in ECOWAS

In 2022, approx. X units of non-upholstered seats with wooden frames were exported in ECOWAS; reducing by -23% on the previous year. Over the period under review, exports saw a slight reduction. The most prominent rate of growth was recorded in 2019 with an increase of 203% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden frame non-upholstered seat exports shrank notably to $X in 2022. In general, exports, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2019 with an increase of 143% against the previous year. The level of export peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

In 2022, Senegal (X units) represented the key exporter of non-upholstered seats with wooden frames, constituting 62% of total exports. Ghana (X units) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (4.9%). Cabo Verde (X units), Burkina Faso (X units), Mali (X units) and Sierra Leone (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wooden frame non-upholstered seat exports from Senegal stood at +3.4%. At the same time, Cabo Verde (+53.4%), Nigeria (+18.7%) and Ghana (+1.4%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +53.4% from 2012-2022. Mali experienced a relatively flat trend pattern. By contrast, Burkina Faso (-6.9%) and Sierra Leone (-23.7%) illustrated a downward trend over the same period. Senegal (+23 p.p.), Ghana (+4.8 p.p.), Cabo Verde (+4.4 p.p.) and Nigeria (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Burkina Faso and Sierra Leone saw its share reduced by -2.1% and -18.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest wooden frame non-upholstered seat supplier in ECOWAS, comprising 73% of total exports. The second position in the ranking was held by Ghana ($X), with an 11% share of total exports. It was followed by Cabo Verde, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to +7.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+0.0% per year) and Cabo Verde (+59.0% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, which is down by -9.2% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden frame non-upholstered seat export price increased by +51.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 66% against the previous year. As a result, the export price reached the peak level of $X per unit, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+8.4%), while the other leaders experienced more modest paces of growth.

Imports of Non-Upholstered Seats With Wooden Frames

Imports in ECOWAS

For the fifth consecutive year, ECOWAS recorded growth in supplies from abroad of non-upholstered seats with wooden frames, which increased by 5.4% to X units in 2022. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by 122%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, wooden frame non-upholstered seat imports shrank dramatically to $X in 2022. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 102%. The level of import peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Ghana represented the main importer of non-upholstered seats with wooden frames in ECOWAS, with the volume of imports accounting for X units, which was near 52% of total imports in 2022. It was distantly followed by Senegal (X units), Gambia (X units) and Cote d'Ivoire (X units), together comprising a 34% share of total imports. Mali (X units), Guinea (X units) and Sierra Leone (X units) held a minor share of total imports.

Imports into Ghana increased at an average annual rate of +18.3% from 2012 to 2022. At the same time, Gambia (+22.8%), Senegal (+20.9%), Sierra Leone (+19.8%), Cote d'Ivoire (+6.7%), Guinea (+6.7%) and Mali (+3.7%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +22.8% from 2012-2022. From 2012 to 2022, the share of Ghana, Senegal and Gambia increased by +13, +8.4 and +4.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported non-upholstered seats with wooden frames in ECOWAS, comprising 60% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8% share of total imports. It was followed by Senegal, with a 7.3% share.

In Ghana, wooden frame non-upholstered seat imports increased at an average annual rate of +22.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+14.8% per year) and Senegal (+11.2% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, which is down by -21.5% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the import price increased by 25% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform