Ghana: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Ghana

The Ghanian glass fibre and article market contracted to $X in 2022, falling by X% against the previous year. Overall, consumption recorded a deep downturn. Glass fibre and article consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in Ghana

In value terms, glass fibre and article production declined to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of X%. Glass fibre and article production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Ghana

In 2022, shipments abroad of glass fibres and glass fibre articles increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre and article exports fell remarkably to $X in 2022. In general, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cameroon (X tons) was the main destination for glass fibre and article exports from Ghana, with a X% share of total exports. Moreover, glass fibre and article exports to Cameroon exceeded the volume sent to the second major destination, Togo (X tons), fourfold. Cote d'Ivoire (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cameroon amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Cote d'Ivoire (X% per year).

In value terms, Togo ($X), Cameroon ($X) and Angola ($X) were the largest markets for glass fibre and article exported from Ghana worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average glass fibre and article export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price showed a noticeable contraction. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Ghana

In 2022, after two years of growth, there was significant decline in purchases abroad of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. In general, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped significantly in the following year.

In value terms, glass fibre and article imports shrank dramatically to $X in 2022. Overall, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to Ghana, with a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Ghana, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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