Ghana: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Ghana

The Ghanian market for prepared glues and other prepared adhesives dropped modestly to $X in 2021, remaining stable 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). In general, consumption, however, posted prominent growth. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Ghana

In 2021, exports of prepared glues and other prepared adhesives from Ghana expanded rapidly to X tons, rising by 9.4% on the previous year's figure. In general, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 861% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of prepared glues and other prepared adhesives soared to $X in 2021. Overall, exports, however, showed a slight reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 1,114% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Burkina Faso (X tons), Mali (X tons) and Benin (X tons) were the main destinations of exports of prepared glues and other prepared adhesives from Ghana, with a combined 71% share of total exports. These countries were followed by China, Nigeria, Cote d'Ivoire, Cameroon and Togo, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Cameroon (with a CAGR of +9.8%), while shipments for the other leaders experienced a decline.

In value terms, Burkina Faso ($X) remains the key foreign market for prepared glues and other prepared adhesives exports from Ghana, comprising 90% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports. It was followed by Cameroon, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to Burkina Faso amounted to +19.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-11.3% per year) and Cameroon (+2.1% per year).

Export Prices by Country

The average export price for prepared glues and other prepared adhesives stood at $X per ton in 2021, jumping by 23% against the previous year. Over the period under review, the export price posted a buoyant increase. The pace of growth was the most pronounced in 2016 an increase of 38%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+21.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Ghana

In 2021, supplies from abroad of prepared glues and other prepared adhesives decreased by -8.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 90% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2020, and then declined in the following year.

In value terms, imports of prepared glues and other prepared adhesives amounted to $X in 2021. In general, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 84%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of prepared glues and other prepared adhesives to Ghana, with a 36% share of total imports. Moreover, imports of prepared glues and other prepared adhesives from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.8% per year) and Indonesia (+58.9% per year).

In value terms, China ($X) constituted the largest supplier of prepared glues and other prepared adhesives to Ghana, comprising 39% of total imports. The second position in the ranking was held by Indonesia ($X), with a 7.1% share of total imports. It was followed by Italy, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+46.8% per year) and Italy (+15.3% per year).

Import Prices by Country

The average import price for prepared glues and other prepared adhesives stood at $X per ton in 2021, growing by 11% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for prepared glues and other prepared adhesives increased by +50.2% against 2017 indices. The pace of growth appeared the most rapid in 2020 an increase of 33%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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