ECOWAS: Spectacle Plastic Frame Market 2024

Spectacle Plastic Frame Market Size in ECOWAS

After two years of decline, the ECOWAS spectacle plastic frame market increased by 1.8% to $X in 2021. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 -16.1% against 2016 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Spectacle Plastic Frame Production in ECOWAS

In value terms, spectacle plastic frame production reached $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 -16.4% against 2016 indices. The pace of growth was the most pronounced in 2015 with an increase of 54% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Spectacle Plastic Frame Exports

Exports in ECOWAS

In 2021, exports of plastic frames and mountings for spectacles and goggles in ECOWAS surged to X units, jumping by 28% on the previous year's figure. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 2,978%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spectacle plastic frame exports skyrocketed to $X in 2021. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2019 with an increase of 766%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire dominates exports structure, recording X units, which was near 97% of total exports in 2021. Niger (X units) held a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the plastic frames and mountings for spectacles and goggles exports, with a CAGR of +16.8% from 2012 to 2021. At the same time, Niger (+2.5%) displayed positive paces of growth. From 2012 to 2021, the share of Cote d'Ivoire increased by +97 percentage points.

In value terms, Cote d'Ivoire ($X) remains the largest spectacle plastic frame supplier in ECOWAS, comprising 86% of total exports. The second position in the ranking was held by Niger ($X), with a 7.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire stood at +12.7%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, with a decrease of -7.5% against the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth was the most pronounced in 2018 when the export price increased by 200%. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Niger ($X per unit), while Cote d'Ivoire stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+1.1%).

Spectacle Plastic Frame Imports

Imports in ECOWAS

In 2021, approx. X units of plastic frames and mountings for spectacles and goggles were imported in ECOWAS; rising by 15% against 2020. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 134%. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, spectacle plastic frame imports soared to $X in 2021. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 141% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of spectacle plastic frame imports in 2021 were Senegal (X units), Cote d'Ivoire (X units), Ghana (X units) and Togo (X units), together amounting to 78% of total import. It was distantly followed by Nigeria (X units), generating a 4.7% share of total imports. The following importers - Cabo Verde (X units) and Sierra Leone (X units) - each accounted for an 8.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +53.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle plastic frame importing markets in ECOWAS were Cote d'Ivoire ($X), Togo ($X) and Ghana ($X), with a combined 62% share of total imports. These countries were followed by Senegal, Nigeria, Cabo Verde and Sierra Leone, which together accounted for a further 28%.

Senegal, with a CAGR of +48.4%, saw the highest growth rate of 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

In 2021, the import price in ECOWAS amounted to $X per unit, with an increase of 6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2018 when the import price increased by 21%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Togo ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform