ECOWAS: Market for PVC Floor, Wall and Ceiling Coverings 2024

Exports of PVC Floor, Wall and Ceiling Coverings

Exports in ECOWAS

In 2022, approx. X square meters of PVC floor, wall and ceiling coverings were exported in ECOWAS; jumping by 79% on 2021. In general, exports, however, saw a noticeable descent. The growth pace was the most rapid in 2020 with an increase of 398% against the previous year. As a result, the exports reached the peak of X square meters. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of PVC floor, wall and ceiling coverings rose rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 when exports increased by 261%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Togo prevails in coverings structure, reaching X square meters, which was approx. 78% of total exports in 2022. It was distantly followed by Nigeria (X square meters), making up an 8.4% share of total exports. The following exporters - Senegal (X square meters), Sierra Leone (X square meters), Cote d'Ivoire (X square meters), Cabo Verde (X square meters) and Niger (X square meters) - together made up 13% of total exports.

Togo experienced a relatively flat trend pattern with regard to volume of exports of PVC floor, wall and ceiling coverings. At the same time, Cabo Verde (+23.9%), Nigeria (+12.6%), Senegal (+12.3%), Cote d'Ivoire (+11.5%) and Niger (+1.4%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +23.9% from 2012-2022. By contrast, Sierra Leone (-25.8%) illustrated a downward trend over the same period. While the share of Togo (+24 p.p.), Nigeria (+6.8 p.p.), Senegal (+3.1 p.p.), Cabo Verde (+2 p.p.) and Cote d'Ivoire (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (-34.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) emerged as the largest PVC floor, wall and ceiling coverings supplier in ECOWAS, comprising 59% of total exports. The second position in the ranking was taken by Senegal ($X), with a 17% share of total exports. It was followed by Nigeria, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Togo totaled +5.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+18.0% per year) and Nigeria (+22.9% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2022, dropping by -35.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 63% against the previous year. As a result, the export price attained the peak level of $X per square meter, and then contracted notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+9.1%), while the other leaders experienced more modest paces of growth.

Imports of PVC Floor, Wall and Ceiling Coverings

Imports in ECOWAS

In 2022, overseas purchases of PVC floor, wall and ceiling coverings decreased by -17.2% to X square meters, falling for the second year in a row after four years of growth. Over the period under review, imports, however, recorded slight growth. The most prominent rate of growth was recorded in 2019 when imports increased by 47%. The volume of import peaked at X square meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of PVC floor, wall and ceiling coverings dropped to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 24%. Over the period under review, imports of reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Ghana (X square meters) and Nigeria (X square meters) were the key importers of PVC floor, wall and ceiling coverings in 2022, accounting for near 32% and 31% of total imports, respectively. Liberia (X square meters) held a 6.9% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (5.4%), Sierra Leone (5%), Togo (4.9%) and Cote d'Ivoire (4.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of +22.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported PVC floor, wall and ceiling coverings in ECOWAS, comprising 42% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 19% share of total imports. It was followed by Guinea, with a 7% share.

In Ghana, imports of PVC floor, wall and ceiling coverings expanded at an average annual rate of +8.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (-6.6% per year) and Guinea (+12.0% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per square meter in 2022, growing by 15% against the previous year. Over the period under review, the import price continues to indicate a modest increase. The growth pace was the most rapid in 2014 when the import price increased by 32%. The level of import peaked at $X per square meter in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per square meter), while Nigeria ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform