Ghana: Textile Rubber Hose Market 2024

Textile Rubber Hose Market Size in Ghana

The Ghanian textile rubber hose market surged to $X in 2021, picking up by 68% 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). Over the period under review, consumption recorded moderate growth. Textile rubber hose consumption peaked in 2021 and is expected to retain growth in the immediate term.

Textile Rubber Hose Exports

Exports from Ghana

Textile rubber hose exports from Ghana expanded remarkably to X kg in 2021, with an increase of 15% against 2020. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,072%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, textile rubber hose exports totaled $X in 2021. Over the period under review, exports continue to indicate strong growth. The growth pace was the most rapid in 2020 when exports increased by 632% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X kg) was the main destination for textile rubber hose exports from Ghana, accounting for a 80% share of total exports. Moreover, textile rubber hose exports to Belgium exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium stood at +28.6%.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for rubber hose reinforced with textiles exports from Ghana, comprising 72% of total exports. The second position in the ranking was held by Belgium ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire totaled +14.4%.

Export Prices by Country

In 2021, the average textile rubber hose export price amounted to $X per ton, dropping by -12.2% against the previous year. In general, the export price, however, enjoyed temperate growth. The pace of growth was the most pronounced in 2019 an increase of 288% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, 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 Cote d'Ivoire ($X per ton), while the average price for exports to Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+33.9%), while the prices for the other major destinations experienced a decline.

Textile Rubber Hose Imports

Imports into Ghana

In 2021, the amount of rubber hose reinforced with textiles imported into Ghana soared to X tons, jumping by 66% on 2020. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 84%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, textile rubber hose imports skyrocketed to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 74%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest textile rubber hose supplier to Ghana, with a 56% share of total imports. Moreover, textile rubber hose imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. The third position in this ranking was taken by South Africa (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+38.4% per year) and South Africa (+27.2% per year).

In value terms, Australia ($X), China ($X) and South Africa ($X) constituted the largest textile rubber hose suppliers to Ghana, together comprising 70% of total imports. These countries were followed by Malaysia, the United States, Italy, Belgium and the UK, which together accounted for a further 19%.

In terms of the main suppliers, Italy, with a CAGR of +63.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average textile rubber hose import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the import price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 50% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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