ECOWAS: Prisms And Mirrors Market 2025

Prisms And Mirrors Market Size in ECOWAS

The ECOWAS prisms and mirrors market dropped remarkably to $X in 2022, which is down by -16.4% against the previous year. Overall, consumption, however, continues to indicate a prominent expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Prisms And Mirrors Production in ECOWAS

In value terms, prisms and mirrors production stood at $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 121% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Prisms And Mirrors Exports

Exports in ECOWAS

Prisms and mirrors exports shrank to X kg in 2022, waning by -11.8% on the year before. Over the period under review, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 164% against the previous year. As a result, the exports attained the peak of X kg. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, prisms and mirrors exports shrank sharply to $X in 2022. In general, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 173% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Niger was the major exporting country with an export of around X kg, which accounted for 66% of total exports. Ghana (X kg) ranks second in terms of the total exports with a 19% share, followed by Mali (5.9%). The following exporters - Senegal (X kg) and Nigeria (X kg) - together made up 7.4% of total exports.

From 2012 to 2022, average annual rates of growth with regard to prisms and mirrors exports from Niger stood at +16.7%. At the same time, Mali (+29.7%), Ghana (+24.1%) and Senegal (+1.8%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +29.7% from 2012-2022. By contrast, Nigeria (-16.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger, Ghana and Mali increased by +29, +13 and +5.9 percentage points, respectively.

In value terms, Niger ($X) remains the largest prisms and mirrors supplier in ECOWAS, comprising 62% of total exports. The second position in the ranking was held by Ghana ($X), with an 11% share of total exports. It was followed by Mali, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Niger totaled +25.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+27.4% per year) and Mali (+45.5% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by -5.6% against the previous year. In general, the export price, however, saw a strong increase. The growth pace was the most rapid in 2013 an increase of 97%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+23.4%), while the other leaders experienced more modest paces of growth.

Prisms And Mirrors Imports

Imports in ECOWAS

In 2022, overseas purchases of prisms and mirrors decreased by -59.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 14,311%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, prisms and mirrors imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 398% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Nigeria was the largest importer of prisms and mirrors in ECOWAS, with the volume of imports finishing at X tons, which was near 60% of total imports in 2022. It was distantly followed by Benin (X tons), committing a 30% share of total imports. The following importers - Senegal (X tons) and Cabo Verde (X tons) - together made up 5.4% of total imports.

Imports into Nigeria increased at an average annual rate of +7.7% from 2012 to 2022. At the same time, Benin (+71.6%) and Senegal (+23.6%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +71.6% from 2012-2022. By contrast, Cabo Verde (-31.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin, Senegal and Cabo Verde increased by +29, +2.3 and +1.7 percentage points, respectively.

In value terms, the largest prisms and mirrors importing markets in ECOWAS were Benin ($X), Nigeria ($X) and Senegal ($X), with a combined 77% share of total imports.

Benin, with a CAGR of +53.8%, recorded the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per ton, with an increase of 201% against the previous year. In general, the import price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by 1,099%. 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.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform