ECOWAS: Prepared Rubber Accelerators Market 2024

Prepared Rubber Accelerators Market Size in ECOWAS

The ECOWAS prepared rubber accelerators market shrank to $X in 2021, reducing by -5.7% against the previous year. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 -19.0% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Prepared Rubber Accelerators Production in ECOWAS

In value terms, prepared rubber accelerators production stood at $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 -15.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Prepared Rubber Accelerators Exports

Exports in ECOWAS

In 2021, the amount of prepared rubber accelerators exported in ECOWAS soared to X tons, picking up by 2,573% against the previous year. Overall, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared rubber accelerators exports skyrocketed to $X in 2021. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of prepared rubber accelerators, namely Cote d'Ivoire, represented more than two-thirds of total export.

Cote d'Ivoire was also the fastest-growing in terms of the prepared rubber accelerators exports, with a CAGR of +77.0% from 2012 to 2021. From 2012 to 2021, the share of Cote d'Ivoire increased by +6.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest prepared rubber accelerators supplier in ECOWAS.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire totaled +73.4%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, shrinking by -26.6% against the previous year. In general, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 an increase of 27%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to -2.0% per year.

Prepared Rubber Accelerators Imports

Imports in ECOWAS

In 2021, prepared rubber accelerators imports in ECOWAS fell significantly to X tons, shrinking by -37.1% compared with the previous year's figure. Overall, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of 170% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, prepared rubber accelerators imports declined notably to $X in 2021. In general, imports recorded a mild decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 159%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was near 76% of total imports in 2021. It was distantly followed by Cote d'Ivoire (X tons), generating an 8.6% share of total imports. The following importers - Ghana (X tons), Sierra Leone (X tons), Mali (X tons) and Burkina Faso (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to prepared rubber accelerators imports into Nigeria stood at +5.8%. At the same time, Sierra Leone (+24.7%) and Mali (+12.2%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +24.7% from 2012-2021. By contrast, Cote d'Ivoire (-10.3%), Ghana (-18.0%) and Burkina Faso (-23.6%) illustrated a downward trend over the same period. While the share of Nigeria (+43 p.p.), Sierra Leone (+2.6 p.p.) and Mali (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cote d'Ivoire (-7.9 p.p.), Burkina Faso (-11.6 p.p.) and Ghana (-12.3 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported prepared rubber accelerators in ECOWAS, comprising 77% of total imports. The second position in the ranking was held by Sierra Leone ($X), with a 7.6% share of total imports. It was followed by Cote d'Ivoire, with a 5.4% share.

In Nigeria, prepared rubber accelerators imports expanded at an average annual rate of +8.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Sierra Leone (+43.8% per year) and Cote d'Ivoire (-5.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 33% against the previous year. Import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the import price increased by 89%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sierra Leone ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+15.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform