ECOWAS: Market for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass 2024

Market Size for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in ECOWAS

In 2022, the ECOWAS pigments, opacifiers and colours market decreased by -16.5% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, enjoyed a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in ECOWAS

In value terms, pigments, opacifiers and colours production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 46% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Exports in ECOWAS

In 2022, exports of pigments, opacifiers and colours for ceramics, enamelling or glass in ECOWAS reached X tons, increasing by 4.8% on 2021. Overall, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 554% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, pigments, opacifiers and colours exports fell sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 140% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Togo (X tons) represented the major exporter of pigments, opacifiers and colours for ceramics, enamelling or glass, achieving 69% of total exports. It was distantly followed by Nigeria (X kg), constituting a 31% share of total exports.

Togo was also the fastest-growing in terms of the pigments, opacifiers and colours for ceramics, enamelling or glass exports, with a CAGR of +14.4% from 2012 to 2022. At the same time, Nigeria (+14.0%) displayed positive paces of growth. Togo (+62 p.p.) and Nigeria (+27 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest pigments, opacifiers and colours supplier in ECOWAS, comprising 69% of total exports. The second position in the ranking was taken by Togo ($X), with a 31% share of total exports.

In Nigeria, pigments, opacifiers and colours exports expanded at an average annual rate of +15.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -53% against the previous year. Over the period under review, the export price saw a abrupt contraction. The growth pace was the most rapid in 2021 when the export price increased by 250%. As a result, the export price reached the peak level of $X per ton, and then fell markedly 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 Nigeria ($X per ton), while Togo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+1.3%).

Imports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Imports in ECOWAS

In 2022, supplies from abroad of pigments, opacifiers and colours for ceramics, enamelling or glass decreased by -25.6% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 234% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, pigments, opacifiers and colours imports fell notably to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 148%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria was the main importer of pigments, opacifiers and colours for ceramics, enamelling or glass in ECOWAS, with the volume of imports recording X tons, which was near 81% of total imports in 2022. It was distantly followed by Ghana (X tons), generating a 17% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to pigments, opacifiers and colours imports into Nigeria stood at +12.5%. At the same time, Ghana (+49.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +49.6% from 2012-2022. Ghana (+16 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -12.5% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported pigments, opacifiers and colours for ceramics, enamelling or glass in ECOWAS, comprising 68% of total imports. The second position in the ranking was held by Ghana ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +3.2%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by 12% against the previous year. In general, the import price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 56%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-0.3%).

Source: IndexBox Platform