ECOWAS: Wadding Market 2024

Wadding Market Size in ECOWAS

In 2021, the ECOWAS wadding market increased by 2.9% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Wadding Production in ECOWAS

In value terms, wadding production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Wadding Exports

Exports in ECOWAS

In 2021, approx. X tons of wadding were exported in ECOWAS; falling by -19.2% compared with 2020. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 55% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then shrank significantly in the following year.

In value terms, wadding exports contracted dramatically to $X in 2021. Over the period under review, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 65% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then fell markedly in the following year.

Exports by Country

Senegal was the key exporting country with an export of around X tons, which resulted at 75% of total exports. Mali (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (5%). Burkina Faso (X tons) held a little share of total exports.

Exports from Senegal increased at an average annual rate of +9.7% from 2012 to 2021. At the same time, Mali (+107.1%) and Nigeria (+10.6%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +107.1% from 2012-2021. By contrast, Burkina Faso (-22.5%) illustrated a downward trend over the same period. While the share of Senegal (+36 p.p.), Mali (+11 p.p.) and Nigeria (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Burkina Faso (-46.5 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest wadding supplier in ECOWAS, comprising 87% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 4% share of total exports. It was followed by Mali, with a 3.9% share.

In Senegal, wadding exports increased at an average annual rate of +9.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Burkina Faso (-5.0% per year) and Mali (+110.5% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, falling by -5.9% against the previous year. Over the last nine years, it increased at an average annual rate of +6.2%. The most prominent rate of growth was recorded in 2013 when the export price increased by 72% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+22.6%), while the other leaders experienced more modest paces of growth.

Wadding Imports

Imports in ECOWAS

In 2021, purchases abroad of wadding increased by 52% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 56% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, wadding imports soared to $X in 2021. Overall, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire was the major importing country with an import of around X tons, which finished at 53% of total imports. Nigeria (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (8.9%), Burkina Faso (7.4%) and Senegal (4.7%). Mali (X tons) and Guinea (X tons) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the wadding imports, with a CAGR of +28.5% from 2012 to 2021. At the same time, Burkina Faso (+25.3%), Guinea (+17.4%), Ghana (+11.9%), Senegal (+7.6%) and Mali (+2.1%) displayed positive paces of growth. By contrast, Nigeria (-13.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Cote d'Ivoire, Burkina Faso, Ghana and Guinea increased by +44, +5.8, +3.7 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported wadding in ECOWAS, comprising 72% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 9.9% share of total imports. It was followed by Mali, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +49.8%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+0.6% per year) and Mali (+3.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, increasing by 32% against the previous year. Overall, the import price enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by 60% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+16.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform