Ghana: Market for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber 2024

Market Size for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Ghana

In 2022, the Ghanian solid vulcanised rubber sheet market decreased by -37.7% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, recorded a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Exports from Ghana

In 2022, shipments abroad of plates, sheets, strips for floor covering of solid vulcanised rubber was finally on the rise to reach X kg after two years of decline. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 318% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, solid vulcanised rubber sheet exports soared to $X in 2022. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 255% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for solid vulcanised rubber sheet exports from Ghana, accounting for a 86% share of total exports. Moreover, solid vulcanised rubber sheet exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Togo (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire totaled -15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (-11.8% per year) and Burkina Faso (-36.2% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for plates, sheets, strips for floor covering of solid vulcanised rubber exports from Ghana, comprising 67% of total exports. The second position in the ranking was held by Burkina Faso ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire amounted to -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-18.8% per year) and Togo (+0.4% per year).

Export Prices by Country

The average solid vulcanised rubber sheet export price stood at $X per ton in 2022, declining by -10.3% against the previous year. Overall, the export price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of 84%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Cote d'Ivoire ($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 the United States (+42.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Imports into Ghana

In 2022, the amount of plates, sheets, strips for floor covering of solid vulcanised rubber imported into Ghana declined significantly to X tons, falling by -41.6% on 2021 figures. Overall, imports, however, posted strong growth. The growth pace was the most rapid in 2019 with an increase of 377% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, solid vulcanised rubber sheet imports declined remarkably to $X in 2022. In general, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 312% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest solid vulcanised rubber sheet supplier to Ghana, with a 77% share of total imports. Moreover, solid vulcanised rubber sheet imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold. The third position in this ranking was held by the Netherlands (X tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+10.2% per year) and the Netherlands (+21.9% per year).

In value terms, China ($X) constituted the largest supplier of plates, sheets, strips for floor covering of solid vulcanised rubber to Ghana, comprising 77% of total imports. The second position in the ranking was held by India ($X), with a 5% share of total imports. It was followed by Malaysia, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.6% per year) and Malaysia (-2.5% per year).

Import Prices by Country

In 2022, the average solid vulcanised rubber sheet import price amounted to $X per ton, increasing by 11% against the previous year. Overall, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, solid vulcanised rubber sheet import price increased by +98.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 64% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 India ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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