ECOWAS: Market for Rigid Tubes, Pipes and Hoses, of Other Polymers 2024

Market Size for Rigid Tubes, Pipes and Hoses, of Other Polymers in ECOWAS

The ECOWAS market for rigid tubes, pipes and hoses, of other polymers reduced to $X in 2022, shrinking by -4.3% against the previous year. In general, consumption, however, continues to indicate slight growth. Over the period under review, the market hit record highs at $X in 2021, and then contracted slightly in the following year.

Production of Rigid Tubes, Pipes and Hoses, of Other Polymers in ECOWAS

In value terms, production of rigid tubes, pipes and hoses, of other polymers declined slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 31%. Over the period under review, production of attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Exports in ECOWAS

In 2022, approx. X tons of rigid tubes, pipes and hoses, of other polymers were exported in ECOWAS; picking up by 93% compared with the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 196% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of rigid tubes, pipes and hoses, of other polymers surged to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 101%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the main exporting country with an export of about X tons, which finished at 69% of total exports. It was distantly followed by Cote d'Ivoire (X tons), achieving a 21% share of total exports. The following exporters - Nigeria (X tons), Togo (X tons), Burkina Faso (X tons) and Senegal (X tons) - together made up 8.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to rigid tubes, pipes and hoses, of other polymers exports from Ghana stood at +8.2%. At the same time, Cote d'Ivoire (+56.6%), Burkina Faso (+26.4%) and Senegal (+10.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +56.6% from 2012-2022. Nigeria experienced a relatively flat trend pattern. By contrast, Togo (-26.3%) illustrated a downward trend over the same period. While the share of Ghana (+35 p.p.), Cote d'Ivoire (+21 p.p.) and Burkina Faso (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Togo (-44.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest rigid tubes, pipes and hoses, of other polymers supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 18% share of total exports. It was followed by Senegal, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to +6.5%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+37.3% per year) and Senegal (+14.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -21.8% against the previous year. Overall, the export price continues to indicate a mild slump. The pace of growth was the most pronounced in 2018 an increase of 62% against the previous year. The level of export peaked at $X per ton in 2021, and then fell dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Imports in ECOWAS

In 2022, purchases abroad of rigid tubes, pipes and hoses, of other polymers decreased by -6.2% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2019 when imports increased by 28% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, imports of rigid tubes, pipes and hoses, of other polymers contracted to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 40%. Over the period under review, imports of attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) and Senegal (X tons) represented the main importers of rigid tubes, pipes and hoses, of other polymers in ECOWAS, together committing 57% of total imports. It was distantly followed by Ghana (X tons), Burkina Faso (X tons) and Nigeria (X tons), together committing a 24% share of total imports. The following importers - Mali (X tons) and Benin (X tons) - each recorded a 6.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +48.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rigid tubes, pipes and hoses, of other polymers importing markets in ECOWAS were Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X), together accounting for 71% of total imports.

Cote d'Ivoire, with a CAGR of +37.4%, saw the highest rates of growth with regard to 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 2022, the import price in ECOWAS amounted to $X per ton, reducing by -3.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2014 an increase of 68%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat 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 Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform