ECOWAS: Tufted Carpet Market 2025

Tufted Carpet Market Size in ECOWAS

The ECOWAS tufted carpet market amounted to $X in 2022, leveling off at the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Tufted Carpet Production in ECOWAS

In value terms, tufted carpet production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 51%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Tufted Carpet Exports

Exports in ECOWAS

Tufted carpet exports reduced markedly to X square meters in 2022, waning by -81.8% compared with the previous year's figure. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 317% against the previous year. The volume of export peaked at X square meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, tufted carpet exports contracted significantly to $X in 2022. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of 193% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the key exporter of tufted carpets and other tufted textile floor coverings in ECOWAS, with the volume of exports accounting for X square meters, which was near 50% of total exports in 2022. Senegal (X square meters) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (9.7%), Ghana (8.5%), Niger (6.5%) and Togo (5.2%). Benin (X square meters) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tufted carpet exports from Nigeria stood at -11.2%. At the same time, Senegal (+21.9%), Gambia (+16.2%) and Niger (+13.6%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +21.9% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Benin (-2.7%) and Togo (-2.9%) illustrated a downward trend over the same period. While the share of Senegal (+14 p.p.), Gambia (+8.7 p.p.), Niger (+5.7 p.p.), Ghana (+4.6 p.p.), Benin (+3.3 p.p.) and Togo (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-28.4 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) emerged as the largest tufted carpet supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was taken by Senegal ($X), with a 10% share of total exports. It was followed by Gambia, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at -12.1%. In the other countries, the average annual rates were as follows: Senegal (+13.4% per year) and Gambia (+13.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2022, with an increase of 51% against the previous year. Overall, the export price, however, continues to indicate a slight downturn. The level of export peaked at $X per square meter in 2012; however, from 2013 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 Niger ($X per square meter), while Ghana ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Tufted Carpet Imports

Imports in ECOWAS

In 2022, purchases abroad of tufted carpets and other tufted textile floor coverings increased by 2.8% to X square meters, rising for the fifth year in a row after two years of decline. Over the period under review, imports posted a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 80% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, tufted carpet imports reached $X in 2022. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 52% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Ghana prevails in imports structure, resulting at X square meters, which was approx. 58% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X square meters), Nigeria (X square meters) and Guinea (X square meters), together comprising a 19% share of total imports. The following importers - Mali (X square meters), Benin (X square meters), Senegal (X square meters), Liberia (X square meters) and Sierra Leone (X square meters) - together made up 18% of total imports.

From 2012 to 2022, average annual rates of growth with regard to tufted carpet imports into Ghana stood at +22.6%. At the same time, Liberia (+25.3%), Guinea (+20.2%), Benin (+13.9%), Mali (+8.8%) and Cote d'Ivoire (+4.6%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +25.3% from 2012-2022. By contrast, Sierra Leone (-1.4%), Nigeria (-3.5%) and Senegal (-5.3%) illustrated a downward trend over the same period. While the share of Ghana (+37 p.p.), Guinea (+3 p.p.) and Liberia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sierra Leone (-3.6 p.p.), Cote d'Ivoire (-5.4 p.p.), Senegal (-14.6 p.p.) and Nigeria (-17.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported tufted carpets and other tufted textile floor coverings in ECOWAS, comprising 57% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 9% share of total imports. It was followed by Nigeria, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to +17.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+3.1% per year) and Nigeria (-3.4% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per square meter, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 an increase of 7.1%. Over the period under review, import prices hit record highs at $X per square meter 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 Benin ($X per square meter), while Mali ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform