ECOWAS: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in ECOWAS

The ECOWAS rubber tube and pipe market amounted to $X in 2021, surging by 3.8% against the previous year. In general, consumption recorded a perceptible descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Tubes, Pipes And Hoses Of Vulcanized Rubber in ECOWAS

In value terms, rubber tube and pipe production rose modestly to $X in 2021 estimated in export price. Overall, production saw a noticeable reduction. The growth pace was the most rapid in 2019 with an increase of 29%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports in ECOWAS

In 2021, shipments abroad of tubes, pipes and hoses of vulcanized rubber increased by 145% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rubber tube and pipe exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was approx. 81% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), comprising a 6.6% share of total exports. Togo (X tons), Guinea (X tons) and Benin (X tons) took a minor share of total exports.

Senegal was also the fastest-growing in terms of the tubes, pipes and hoses of vulcanized rubber exports, with a CAGR of +72.7% from 2012 to 2021. At the same time, Togo (+55.4%), Benin (+20.9%) and Guinea (+16.9%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-17.6%) illustrated a downward trend over the same period. While the share of Senegal (+80 p.p.) and Togo (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-63.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest rubber tube and pipe supplier in ECOWAS, comprising 75% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 7.9% share of total exports. It was followed by Togo, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in Senegal totaled +57.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+5.2% per year) and Togo (+50.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, surging by 29% against the previous year. Over the period under review, the export price posted a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 147% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+27.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports in ECOWAS

In 2021, rubber tube and pipe imports in ECOWAS shrank modestly to X tons, approximately reflecting the previous year's figure. Over the period under review, imports recorded a slight descent. The pace of growth appeared the most rapid in 2020 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, rubber tube and pipe imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 30%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Ghana (X tons) and Nigeria (X tons) were the main importers of tubes, pipes and hoses of vulcanized rubber in 2021, recording near 35% and 24% of total imports, respectively. It was distantly followed by Cote d'Ivoire (X tons), Benin (X tons), Senegal (X tons) and Guinea (X tons), together generating a 27% share of total imports. The following importers - Mali (X tons) and Liberia (X tons) - together made up 6.6% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of +50.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 55% share of total imports. Senegal, Guinea, Mali, Liberia and Benin lagged somewhat behind, together comprising a further 31%.

Benin, with a CAGR of +25.4%, recorded the highest growth rate of the value of imports, among 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, jumping by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2013 an increase of 34%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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 Guinea ($X per ton), while Benin ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform