ECOWAS: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in ECOWAS

The ECOWAS non-reinforced rubber tubing market soared to $X in 2021, increasing by 28% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +144.0% against 2016 indices. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Non-Reinforced Rubber Tubing Production in ECOWAS

In value terms, non-reinforced rubber tubing production surged to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.9% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 111%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Non-Reinforced Rubber Tubing Exports

Exports in ECOWAS

In 2021, after three years of decline, there was significant growth in overseas shipments of rubber tubing not reinforced, when their volume increased by 127% to X tons. Overall, exports, however, showed a slight downturn. The pace of growth appeared the most rapid in 2016 with an increase of 136%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-reinforced rubber tubing exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 99.9% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sierra Leone dominates exports structure, accounting for X tons, which was near 72% of total exports in 2021. Niger (X kg) held the second position in the ranking, followed by Cote d'Ivoire (X kg) and Burkina Faso (X kg). All these countries together took near 21% share of total exports. Nigeria (X kg) followed a long way behind the leaders.

Sierra Leone was also the fastest-growing in terms of the rubber tubing not reinforced exports, with a CAGR of +40.5% from 2012 to 2021. At the same time, Niger (+6.2%), Burkina Faso (+5.1%) and Cote d'Ivoire (+4.0%) displayed positive paces of growth. By contrast, Nigeria (-30.1%) illustrated a downward trend over the same period. Sierra Leone (+70 p.p.), Niger (+4.1 p.p.), Cote d'Ivoire (+3.1 p.p.) and Burkina Faso (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -69.7% from 2012 to 2021, respectively.

In value terms, the largest non-reinforced rubber tubing supplying countries in ECOWAS were Sierra Leone ($X), Cote d'Ivoire ($X) and Nigeria ($X), together accounting for 72% of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +30.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, shrinking by -34.4% against the previous year. Over the period under review, the export price showed a noticeable decrease. The pace of growth appeared the most rapid in 2014 when the export price increased by 113%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+6.0%), while the other leaders experienced a decline in the export price figures.

Non-Reinforced Rubber Tubing Imports

Imports in ECOWAS

In 2021, the amount of rubber tubing not reinforced imported in ECOWAS skyrocketed to X tons, rising by 59% against the previous year. In general, imports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2020 when imports increased by 63% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, non-reinforced rubber tubing imports skyrocketed to $X in 2021. Overall, imports enjoyed a mild increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly 64% of total imports in 2021. Cote d'Ivoire (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (8.3%) and Guinea (5.2%). Sierra Leone (X tons), Liberia (X tons), Togo (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +36.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2021, with a combined 68% share of total imports. These countries were followed by Cote d'Ivoire, Sierra Leone, Guinea, Benin, Togo and Liberia, which together accounted for a further 26%.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +28.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, surging by 27% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-reinforced rubber tubing import price decreased by -6.4% against 2018 indices. The pace of growth was the most pronounced in 2016 an increase of 55%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform