ECOWAS: Market for Prepared Glues And Other Prepared Adhesives 2024

Exports of Prepared Glues And Other Prepared Adhesives

Exports in ECOWAS

In 2021, the amount of prepared glues and other prepared adhesives exported in ECOWAS soared to X tons, growing by 15% compared with the year before. In general, exports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2019 with an increase of 346% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of prepared glues and other prepared adhesives surged to $X in 2021. Overall, exports, however, showed a deep reduction. The growth pace was the most rapid in 2013 with an increase of 420%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

In 2021, Nigeria (X tons), distantly followed by Togo (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Mali (X tons), Burkina Faso (X tons) and Ghana (X tons) were the key exporters of prepared glues and other prepared adhesives, together committing 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Burkina Faso (with a CAGR of +52.2%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of exports in 2021, together accounting for 58% of total exports. Mali, Ghana, Togo and Burkina Faso lagged somewhat behind, together accounting for a further 32%.

Among the main exporting countries, Burkina Faso, with a CAGR of +35.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 324% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($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 (+5.5%), while the other leaders experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports in ECOWAS

In 2021, supplies from abroad of prepared glues and other prepared adhesives decreased by -12.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 71%. Over the period under review, imports of hit record highs at X tons in 2020, and then contracted in the following year.

In value terms, imports of prepared glues and other prepared adhesives declined slightly to $X in 2021. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 56% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Nigeria represented the key importing country with an import of about X tons, which accounted for 51% of total imports. Ghana (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (8.3%), Cote d'Ivoire (7.2%) and Guinea (4.9%). Burkina Faso (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to prepared glues and other prepared adhesives imports into Nigeria stood at +3.3%. At the same time, Guinea (+24.1%), Ghana (+17.1%), Senegal (+13.6%) and Cote d'Ivoire (+7.5%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +24.1% from 2012-2021. By contrast, Burkina Faso (-3.1%) illustrated a downward trend over the same period. Ghana (+11 p.p.), Guinea (+3.7 p.p.) and Senegal (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Nigeria saw its share reduced by -3.5% and -15.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

Ghana, with a CAGR of +19.4%, saw the highest rates of growth with regard to the value of imports, among 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 ton, surging by 13% against the previous year. Over the period under review, the import price posted a slight expansion. The pace of growth was the most pronounced in 2014 when the import price increased by 71% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform