ECOWAS: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ECOWAS

The ECOWAS non-woven glass fibre articles market expanded notably to $X in 2021, growing by 12% against the previous year. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 decreased by -7.9% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in ECOWAS

In value terms, non-woven glass fibre articles production rose remarkably to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.1% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 20%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports in ECOWAS

In 2021, shipments abroad of non-woven glass fibre webs, felts, mattresses and boards increased by 1,701% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-woven glass fibre articles exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 1,992% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Mali prevails in exports structure, resulting at X tons, which was near 96% of total exports in 2021. Senegal (X tons) held a relatively small share of total exports.

Mali was also the fastest-growing in terms of the non-woven glass fibre webs, felts, mattresses and boards exports, with a CAGR of +49.0% from 2012 to 2021. At the same time, Senegal (+23.2%) displayed positive paces of growth. From 2012 to 2021, the share of Mali increased by +72 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) emerged as the largest non-woven glass fibre articles supplier in ECOWAS, comprising 95% of total exports. The second position in the ranking was taken by Senegal ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mali totaled +48.0%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with a decrease of -21.3% against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 an increase of 119% against the previous year. The level of export peaked at $X per ton in 2020, and then dropped notably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Senegal ($X per ton), while Mali totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+8.6%).

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports in ECOWAS

In 2021, purchases abroad of non-woven glass fibre webs, felts, mattresses and boards decreased by -0.4% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports, however, saw a moderate increase. The growth pace was the most rapid in 2020 when imports increased by 134% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, non-woven glass fibre articles imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate noticeable growth. The pace of growth appeared the most rapid in 2020 when imports increased by 119% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Ghana was the main importing country with an import of around X tons, which finished at 66% of total imports. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Nigeria (X tons) and Senegal (X tons). All these countries together took approx. 26% share of total imports. Togo (X tons) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of +28.3% from 2012 to 2021. At the same time, Togo (+28.8%), Senegal (+18.2%) and Cote d'Ivoire (+17.7%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +28.8% from 2012-2021. By contrast, Nigeria (-16.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Cote d'Ivoire, Senegal and Togo increased by +55, +9, +3.4 and +1.8 percentage points, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported non-woven glass fibre webs, felts, mattresses and boards in ECOWAS, comprising 69% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 13% share of total imports. It was followed by Nigeria, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in Ghana totaled +32.7%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+17.8% per year) and Nigeria (-22.6% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, rising by 35% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Togo ($X per ton), while Nigeria ($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 (+3.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform