Ghana: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Ghana

The Ghanian vulcanised rubber thread market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption continues to indicate a buoyant increase. Vulcanised rubber thread consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports from Ghana

In 2021, overseas shipments of vulcanised rubber thread and cord decreased by -51.5% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 416%. As a result, the exports attained the peak of X tons, and then fell markedly in the following year.

In value terms, vulcanised rubber thread exports plummeted to $X in 2021. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 357% against the previous year. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

Burkina Faso (X tons) was the main destination for vulcanised rubber thread exports from Ghana, accounting for a 65% share of total exports. Moreover, vulcanised rubber thread exports to Burkina Faso exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Burkina Faso stood at +63.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+59.5% per year) and Niger (+46.1% per year).

In value terms, the largest markets for vulcanised rubber thread exported from Ghana were Cote d'Ivoire ($X), Burkina Faso ($X) and Niger ($X), together comprising 100% of total exports.

Cote d'Ivoire, with a CAGR of +101.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average vulcanised rubber thread export price amounted to $X per ton, jumping by 71% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 an increase of 128% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Burkina Faso ($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 Cote d'Ivoire (+26.6%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Thread Imports

Imports into Ghana

After four years of decline, supplies from abroad of vulcanised rubber thread and cord increased by 19% to X tons in 2021. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 16,841% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber thread imports fell markedly to $X in 2021. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 14,937%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main vulcanised rubber thread supplier to Ghana, with a 95% share of total imports. It was followed by India (X tons), with a 2.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+878.6% per year) and Indonesia (-15.7% per year).

In value terms, China ($X) constituted the largest supplier of vulcanised rubber thread and cord to Ghana, comprising 97% of total imports. The second position in the ranking was held by India ($X), with a 0.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+347.4% per year) and Indonesia (-28.4% per year).

Import Prices by Country

The average vulcanised rubber thread import price stood at $X per ton in 2021, declining by -33.1% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the average import price increased by 67%. The import price peaked at $X per ton in 2020, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Indonesia ($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 (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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