Ghana: Market for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards 2024

Market Size for Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards in Ghana

The Ghanian non-woven glass fibre articles market surged to $X in 2021, rising by 74% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a significant increase. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the near future.

Exports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Exports from Ghana

In 2021, after two years of decline, there was significant growth in shipments abroad of non-woven glass fibre webs, felts, mattresses and boards, when their volume increased by 43% to X tons. Overall, exports showed a mild increase. The most prominent rate of growth was recorded in 2018 with an increase of 86%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, non-woven glass fibre articles exports soared to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 130% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for non-woven glass fibre articles exports from Ghana, with a 91% share of total exports. Moreover, non-woven glass fibre articles exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Burkina Faso (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to +12.3%.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for non-woven glass fibre webs, felts, mattresses and boards exports from Ghana, comprising 49% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to +21.1%.

Export Prices by Country

In 2021, the average non-woven glass fibre articles export price amounted to $X per ton, increasing by 37% against the previous year. Over the period under review, the export price, however, showed a mild reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 210% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Burkina Faso stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+7.8%).

Imports of Non-Woven Glass Fibre Webs, Felts, Mattresses And Boards

Imports into Ghana

In 2021, non-woven glass fibre articles imports into Ghana skyrocketed to X tons, picking up by 53% against 2020 figures. In general, imports recorded a significant increase. The growth pace was the most rapid in 2020 when imports increased by 721% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, non-woven glass fibre articles imports skyrocketed to $X in 2021. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 578% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of non-woven glass fibre articles to Ghana, with a 71% share of total imports. Moreover, non-woven glass fibre articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The third position in this ranking was held by Italy (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+36.7% per year) and Italy (+68.2% per year).

In value terms, China ($X) constituted the largest supplier of non-woven glass fibre webs, felts, mattresses and boards to Ghana, comprising 75% of total imports. The second position in the ranking was taken by Turkey ($X), with a 6.9% share of total imports. It was followed by the United States, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +38.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+39.6% per year) and the United States (+34.0% per year).

Import Prices by Country

In 2021, the average non-woven glass fibre articles import price amounted to $X per ton, rising by 55% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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