ECOWAS: Spectrometers And Spectrophotometers Market 2024

Spectrometers And Spectrophotometers Market Size in ECOWAS

The ECOWAS spectrometers and spectrophotometers market soared to $X in 2022, growing by X% against the previous year. Overall, consumption saw a notable increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Spectrometers And Spectrophotometers Production in ECOWAS

In value terms, spectrometers and spectrophotometers production surged to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Spectrometers And Spectrophotometers Exports

Exports in ECOWAS

In 2022, exports of spectrometers and spectrophotometers in ECOWAS was estimated at X units, remaining constant against 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, spectrometers and spectrophotometers exports shrank markedly to $X in 2022. In general, exports saw a notable expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell sharply in the following year.

Exports by Country

In 2022, Senegal (X units) and Cote d'Ivoire (X units) represented the major exporters of spectrometers and spectrophotometers in ECOWAS, together reaching approx. X% of total exports. Ghana (X units) held the next position in the ranking, distantly followed by Benin (X units), Togo (X units) and Burkina Faso (X units). All these countries together took approx. X% share of total exports. Guinea (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest spectrometers and spectrophotometers supplying countries in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Burkina Faso ($X), with a combined X% share of total exports. Ghana, Togo, Guinea and Benin lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a notable increase. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then dropped notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Benin ($X per unit) was amongst the lowest.

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

Spectrometers And Spectrophotometers Imports

Imports in ECOWAS

In 2022, overseas purchases of spectrometers and spectrophotometers increased by X% to X units, rising for the fifth consecutive year after three years of decline. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, spectrometers and spectrophotometers imports surged to $X in 2022. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria was the major importing country with an import of about X units, which reached X% of total imports. Ghana (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Cote d'Ivoire (X%), Senegal (X%) and Mali (X%). The following importers - Guinea (X units) and Cabo Verde (X units) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cabo Verde (X%), Senegal (X%), Guinea (X%), Cote d'Ivoire (X%), Mali (X%), Burkina Faso (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (X p.p.), Burkina Faso (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported spectrometers and spectrophotometers in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, spectrometers and spectrophotometers imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with an increase of X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectrometers and spectrophotometers import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per unit in 2018; however, from 2019 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 Mali ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform