ECOWAS: Market for Optical Fibers and Bundles 2025

Market Size for Optical Fibers and Bundles in ECOWAS

The ECOWAS optical fiber and bundle market fell to $X in 2022, waning by -9.3% against the previous year. In general, consumption saw strong growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Optical Fibers and Bundles in ECOWAS

In value terms, optical fiber and bundle production reduced to $X in 2022 estimated in export price. Overall, production, however, posted prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 54%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Optical Fibers and Bundles

Exports in ECOWAS

In 2022, the amount of optical fibers and bundles exported in ECOWAS skyrocketed to X tons, with an increase of 421% on the previous year's figure. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, optical fiber and bundle exports reduced to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 147% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X kg) and Nigeria (X kg) prevails in exports structure, together achieving 89% of total exports. It was distantly followed by Sierra Leone (X kg), constituting a 5.7% share of total exports. Guinea (X kg) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +48.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the largest optical fiber and bundle supplier in ECOWAS, comprising 57% of total exports. The second position in the ranking was taken by Togo ($X), with a 17% share of total exports. It was followed by Guinea, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at +37.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+13.8% per year) and Guinea (+23.7% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by -82.3% against the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the export price increased by 300% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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 Guinea ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Optical Fibers and Bundles

Imports in ECOWAS

In 2022, purchases abroad of optical fibers and bundles increased by 41% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 834%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, optical fiber and bundle imports expanded rapidly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 353% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Nigeria dominates imports structure, finishing at X tons, which was approx. 87% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), making up a 4.9% share of total imports. Ghana (X tons) and Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to optical fiber and bundle imports into Nigeria stood at +12.0%. At the same time, Guinea (+49.8%), Cote d'Ivoire (+37.4%) and Ghana (+35.5%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +49.8% from 2012-2022. Cote d'Ivoire (+4.2 p.p.), Ghana (+3.3 p.p.) and Guinea (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -7.9% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported optical fibers and bundles in ECOWAS, comprising 65% of total imports. The second position in the ranking was taken by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

In Nigeria, optical fiber and bundle imports plunged by an average annual rate of -3.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+21.5% per year) and Cote d'Ivoire (+22.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of -19.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2015 an increase of 88%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-10.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform