ECOWAS: Textile Rubber Hose Market 2024

Textile Rubber Hose Market Size in ECOWAS

In 2021, after six years of growth, there was decline in the ECOWAS textile rubber hose market, when its value decreased by -4.4% to $X. The total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 increased by +65.2% against 2014 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

Textile Rubber Hose Production in ECOWAS

In value terms, textile rubber hose production shrank to $X in 2021 estimated in export price. The total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.5% against 2014 indices. The growth pace was the most rapid in 2015 when the production volume increased by 18%. The level of production peaked at $X in 2020, and then fell in the following year.

Textile Rubber Hose Exports

Exports in ECOWAS

In 2021, approx. X tons of rubber hose reinforced with textiles were exported in ECOWAS; picking up by 157% against the previous year's figure. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 161%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, textile rubber hose exports skyrocketed to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of rubber hose reinforced with textiles, namely Sierra Leone, Benin and Cote d'Ivoire, represented more than two-thirds of total export. Senegal (X tons) took the next position in the ranking, followed by Ghana (X kg). All these countries together took near 12% share of total exports. Nigeria (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of +70.8%), while the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Benin ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 69% of total exports.

In terms of the main exporting countries, Benin, with a CAGR of +168.0%, saw the highest rates of growth with regard to 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

In 2021, the export price in ECOWAS amounted to $X per ton, which is down by -47.8% against the previous year. Over the period under review, the export price faced a sharp downturn. The most prominent rate of growth was recorded in 2019 an increase of 49% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Ghana ($X per ton), while Cote d'Ivoire ($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 (+2.1%), while the other leaders experienced a decline in the export price figures.

Textile Rubber Hose Imports

Imports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in purchases abroad of rubber hose reinforced with textiles, which increased by 12% to X tons in 2021. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 72% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, textile rubber hose imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 75%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Ghana represented the largest importer of rubber hose reinforced with textiles in ECOWAS, with the volume of imports reaching X tons, which was approx. 46% of total imports in 2021. Nigeria (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (8.2%), Cote d'Ivoire (8.1%), Senegal (8%), Burkina Faso (6.6%) and Mali (5.2%).

Imports into Ghana increased at an average annual rate of +6.2% from 2012 to 2021. At the same time, Guinea (+31.0%), Senegal (+29.6%), Burkina Faso (+25.7%), Cote d'Ivoire (+14.8%) and Mali (+11.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +31.0% from 2012-2021. Nigeria experienced a relatively flat trend pattern. While the share of Guinea (+7 p.p.), Senegal (+6.6 p.p.), Burkina Faso (+5.1 p.p.), Cote d'Ivoire (+4.1 p.p.) and Mali (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-11 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported rubber hose reinforced with textiles in ECOWAS, comprising 34% of total imports. The second position in the ranking was taken by Guinea ($X), with a 15% share of total imports. It was followed by Burkina Faso, with a 13% share.

In Ghana, textile rubber hose imports expanded at an average annual rate of +2.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (+33.8% per year) and Burkina Faso (+24.9% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, increasing by 32% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 36% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform