ECOWAS: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in ECOWAS

The ECOWAS market for spray guns and similar appliances declined to $X in 2022, approximately reflecting the previous year. Overall, consumption, however, enjoyed a pronounced increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Spray Guns And Similar Appliances in ECOWAS

In value terms, spray guns and similar appliances production stood at $X in 2022 estimated in export price. Over the period under review, production showed a noticeable slump. The growth pace was the most rapid in 2018 with an increase of 38%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Spray Guns And Similar Appliances

Exports in ECOWAS

In 2022, overseas shipments of spray guns and similar appliances decreased by -42.5% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a moderate increase. The pace of growth was the most pronounced in 2021 when exports increased by 205% against the previous year. As a result, the exports attained the peak of X units, and then contracted notably in the following year.

In value terms, spray guns and similar appliances exports dropped significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a modest increase. The pace of growth appeared the most rapid in 2021 with an increase of 400%. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X units), Nigeria (X units) and Liberia (X units), together recording 95% of total export. Senegal (X units) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Liberia (with a CAGR of +76.0%), while the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X), Cote d'Ivoire ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 91% share of total exports.

Among the main exporting countries, Liberia, with a CAGR of +67.1%, recorded the highest growth rate of 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 2022, the export price in ECOWAS amounted to $X per unit, declining by -33.2% against the previous year. In general, the export price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2021 an increase of 64%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Spray Guns And Similar Appliances

Imports in ECOWAS

Spray guns and similar appliances imports fell to X units in 2022, waning by -11.6% on the previous year. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2020 with an increase of 1,810% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, spray guns and similar appliances imports declined to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 1,058%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the major importer of spray guns and similar appliances in ECOWAS, with the volume of imports reaching X units, which was approx. 39% of total imports in 2022. Ghana (X units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (11%), Senegal (10%) and Guinea (8.3%). The following importers - Mali (X units) and Togo (X units) - each finished at a 6.7% share of total imports.

Imports into Nigeria increased at an average annual rate of +15.4% from 2012 to 2022. At the same time, Togo (+47.8%), Senegal (+28.4%), Mali (+24.9%), Cote d'Ivoire (+15.6%), Guinea (+14.9%) and Ghana (+4.1%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +47.8% from 2012-2022. While the share of Nigeria (+10 p.p.), Senegal (+7.6 p.p.), Togo (+3 p.p.), Cote d'Ivoire (+3 p.p.), Mali (+2.3 p.p.) and Guinea (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-20 p.p.) displayed negative dynamics.

In value terms, the largest spray guns and similar appliances importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 60% of total imports. Guinea, Mali, Senegal and Togo lagged somewhat behind, together accounting for a further 27%.

Among the main importing countries, Togo, with a CAGR of +50.1%, recorded the highest rates of growth with regard to 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 unit in 2022, surging by 2.2% against the previous year. Overall, the import price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 when the import price increased by 66%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a 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 Mali ($X per unit), while Senegal ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform