ECOWAS: Parachute Market 2025

Parachute Market Size in ECOWAS

The ECOWAS parachute market contracted modestly to $X in 2021, shrinking by -2% against the previous year. Over the period under review, consumption, however, showed a pronounced decline. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Parachute Production in ECOWAS

In value terms, parachute production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2015 with an increase of 13%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Parachute Exports

Exports in ECOWAS

In 2021, parachute exports in ECOWAS contracted significantly to X kg, with a decrease of -88.5% against 2020 figures. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 1,569% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, parachute exports dropped markedly to $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 1,204%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Sierra Leone (X kg) was the major exporter of parachutes and rotochutes, creating 57% of total exports. It was distantly followed by Nigeria (X kg) and Liberia (X kg), together committing a 40% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +66.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) remains the largest parachute supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was held by Liberia ($X), with a 27% share of total exports. It was followed by Nigeria, with a 7.1% share.

In Sierra Leone, parachute exports increased at an average annual rate of +4.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Liberia (-17.9% per year) and Nigeria (+41.1% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 17% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 125%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+14.6%), while the other leaders experienced mixed trends in the export price figures.

Parachute Imports

Imports in ECOWAS

In 2021, after five years of growth, there was significant decline in overseas purchases of parachutes and rotochutes, when their volume decreased by -81.6% to X tons. Over the period under review, imports showed a precipitous contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 80%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, parachute imports declined sharply to $X in 2021. Overall, imports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 83%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Togo (X kg) and Cote d'Ivoire (X kg) represented roughly 71% of total imports in 2021. Niger (X kg) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (9.6%). Senegal (X kg) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest parachute importing markets in ECOWAS were Togo ($X), Cote d'Ivoire ($X) and Niger ($X), together comprising 94% of total imports.

Cote d'Ivoire, with a CAGR of +49.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 216% against the previous year. In general, the import price showed a remarkable increase. The pace of growth was the most pronounced in 2015 when the import price increased by 255% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Togo ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform