ECOWAS: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in ECOWAS

The ECOWAS metal frame upholstered seat market dropped to $X in 2021, falling by -13.9% against the previous year. Over the period under review, consumption, however, showed a strong increase. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Production of Upholstered Seats With Metal Frames in ECOWAS

In value terms, metal frame upholstered seat production fell dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 114%. The level of production peaked at $X in 2020, and then shrank rapidly in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in ECOWAS

In 2021, approx. X units of upholstered seats with metal frames were exported in ECOWAS; jumping by 39% compared with 2020. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 765% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, metal frame upholstered seat exports skyrocketed to $X in 2021. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 165%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Cote d'Ivoire was the key exporting country with an export of around X units, which finished at 77% of total exports. Nigeria (X units) held the second position in the ranking, distantly followed by Cabo Verde (X units). All these countries together took approx. 21% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the upholstered seats with metal frames exports, with a CAGR of +84.0% from 2012 to 2021. At the same time, Cabo Verde (+72.5%) and Nigeria (+47.4%) displayed positive paces of growth. Cote d'Ivoire (+63 p.p.) and Cabo Verde (+3 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -6.6% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest metal frame upholstered seat supplier in ECOWAS, comprising 45% of total exports. The second position in the ranking was held by Cabo Verde ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire stood at +53.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Cabo Verde (+49.9% per year) and Nigeria (+46.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, rising by 19% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 386% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cabo Verde ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Upholstered Seats With Metal Frames

Imports in ECOWAS

In 2021, supplies from abroad of upholstered seats with metal frames increased by 14% to X units, rising for the fifth consecutive year after four years of decline. Over the period under review, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 63%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, metal frame upholstered seat imports surged to $X in 2021. In general, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 88% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Ghana represented the key importer of upholstered seats with metal frames in ECOWAS, with the volume of imports reaching X units, which was approx. 43% of total imports in 2021. Cote d'Ivoire (X units) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (15%), Togo (9%) and Guinea (5.3%). Liberia (X units) took a little share of total imports.

Imports into Ghana decreased at an average annual rate of -17.1% from 2012 to 2021. At the same time, Senegal (+23.1%), Cote d'Ivoire (+22.7%) and Liberia (+17.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +23.1% from 2012-2021. By contrast, Guinea (-13.0%) and Togo (-18.9%) illustrated a downward trend over the same period. Cote d'Ivoire (+20 p.p.), Senegal (+15 p.p.) and Liberia (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Togo and Ghana saw its share reduced by -9.6% and -29.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported upholstered seats with metal frames in ECOWAS, comprising 39% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 19% share of total imports. It was followed by Senegal, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at -8.5%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+28.5% per year) and Senegal (+23.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, with an increase of 2.7% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the import price increased by 119%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a 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 Liberia ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform