Ghana: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in Ghana

In 2022, the Ghanian glass in the mass market increased by 14% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, recorded a perceptible contraction. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Glass in The Mass in Ghana

In value terms, glass in the mass production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Glass in The Mass

Exports from Ghana

In 2022, after two years of growth, there was decline in overseas shipments of glass in the mass, when their volume decreased by -0.8% to X tons. In general, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by 146%. Over the period under review, the glass in mass exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass in the mass exports stood at $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2016 when exports increased by 133% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for glass in the mass exports from Ghana, with a 82% share of total exports. Moreover, glass in the mass exports to the United Arab Emirates exceeded the volume sent to the second major destination, Cameroon (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (+2.3% per year) and Nigeria (-26.2% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for glass in the mass exports from Ghana, comprising 84% of total exports. The second position in the ranking was taken by Cameroon ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (+2.2% per year) and Nigeria (-17.2% per year).

Export Prices by Country

The average glass in the mass export price stood at $X per ton in 2022, growing by 2.2% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass in the mass export price decreased by -2.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 47%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Cameroon ($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 (+12.2%), while the prices for the other major destinations experienced a decline.

Imports of Glass in The Mass

Imports into Ghana

In 2022, the amount of glass in the mass imported into Ghana surged to X tons, jumping by 287% compared with the year before. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 1,656% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, glass in the mass imports surged to $X in 2022. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 532%. Over the period under review, glass in mass imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

South Africa (X tons), Nigeria (X tons) and the United States (X tons) were the main suppliers of glass in the mass imports to Ghana, together accounting for 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +87.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constituted the largest supplier of glass in the mass to Ghana, comprising 57% of total imports. The second position in the ranking was held by South Africa ($X), with a 19% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Nigeria stood at -11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+29.5% per year) and the UK (+25.0% per year).

Import Prices by Country

The average glass in the mass import price stood at $X per ton in 2022, surging by 8.9% against the previous year. In general, the import price, however, recorded a deep reduction. The pace of growth was the most pronounced in 2019 when the average import price increased by 169% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+34.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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