Ghana: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Ghana

The Ghanian vulcanised cellular rubber articles market expanded to $X in 2021, growing by 3.2% 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 continues to indicate a mild decrease. Vulcanised cellular rubber articles consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Ghana

In 2021, overseas shipments of vulcanised cellular rubber articles for technical uses were finally on the rise to reach X kg for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a measured expansion. Over the period under review, the exports reached the peak figure at X kg in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, vulcanised cellular rubber articles exports surged to $X in 2021. Overall, exports showed notable growth. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X kg), Pakistan (X kg) and Cote d'Ivoire (X kg) were the main destinations of vulcanised cellular rubber articles exports from Ghana, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +24.1%), while the other leaders experienced mixed trend patterns.

In value terms, Burkina Faso ($X) remains the key foreign market for vulcanised cellular rubber articles for technical uses exports from Ghana, comprising 83% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Burkina Faso stood at +68.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-8.2% per year) and Cote d'Ivoire (-27.8% per year).

Export Prices by Country

In 2021, the average vulcanised cellular rubber articles export price amounted to $X per ton, increasing by 45% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 50% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+70.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Ghana

Vulcanised cellular rubber articles imports into Ghana reduced modestly to X tons in 2021, with a decrease of -4.7% compared with 2020. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 111% against the previous year. Imports peaked at X tons in 2020, and then reduced modestly in the following year.

In value terms, vulcanised cellular rubber articles imports surged to $X in 2021. Over the period under review, imports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 102% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vulcanised cellular rubber articles to Ghana, with a 87% share of total imports. Moreover, vulcanised cellular rubber articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +44.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+47.2% per year) and Italy (-26.5% per year).

In value terms, China ($X) constituted the largest supplier of vulcanised cellular rubber articles for technical uses to Ghana, comprising 82% of total imports. The second position in the ranking was held by Turkey ($X), with a 3.1% share of total imports. It was followed by South Africa, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +48.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+31.7% per year) and South Africa (+12.3% per year).

Import Prices by Country

In 2021, the average vulcanised cellular rubber articles import price amounted to $X per ton, jumping by 32% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 an increase of 62%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+15.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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