ECOWAS: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in ECOWAS

After two years of growth, the ECOWAS pyrotechnic articles market decreased by -1% to $X in 2021. Over the period under review, consumption, however, continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Pyrotechnic Articles Production in ECOWAS

In value terms, pyrotechnic articles production reduced slightly to $X in 2021 estimated in export price. In general, production, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 36%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Pyrotechnic Articles Exports

Exports in ECOWAS

In 2021, approx. X kg of signalling flares, rain rockets, fog signals and other pyrotechnic articles were exported in ECOWAS; picking up by 9.3% compared with 2020 figures. Overall, exports, however, continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2019 when exports increased by 649% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, pyrotechnic articles exports fell dramatically to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 447% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Nigeria (X kg), together amounting to 99% of total export.

Nigeria was also the fastest-growing in terms of the signalling flares, rain rockets, fog signals and other pyrotechnic articles exports, with a CAGR of +9.0% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +70 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest pyrotechnic articles supplier in ECOWAS.

In Nigeria, pyrotechnic articles exports shrank by an average annual rate of -4.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with a decrease of -55.3% against the previous year. Overall, the export price recorded a sharp setback. The most prominent rate of growth was recorded in 2018 an increase of 76% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -12.3% per year.

Pyrotechnic Articles Imports

Imports in ECOWAS

In 2021, overseas purchases of signalling flares, rain rockets, fog signals and other pyrotechnic articles decreased by -18.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2014 when imports increased by 117%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, pyrotechnic articles imports fell to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.7% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 85% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X tons) and Mali (X tons) were the major importers of signalling flares, rain rockets, fog signals and other pyrotechnic articles in ECOWAS, together achieving 65% of total imports. Cote d'Ivoire (X kg) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Benin (5.9%), Burkina Faso (5.3%) and Liberia (4.5%). Togo (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +42.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Mali ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 75% share of total imports. Benin, Liberia, Burkina Faso and Togo lagged somewhat behind, together comprising a further 19%.

Benin, with a CAGR of +53.9%, 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 2021, the import price in ECOWAS amounted to $X per ton, growing by 9.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2015 an increase of 48%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Benin ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform