Western Africa: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2024

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in Western Africa

The West African market for blankets and travelling rugs of synthetic fibres rose markedly to $X in 2022, growing by 5.2% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in Western Africa

In value terms, travelling rugs of synthetic fibre production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 13%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports in Western Africa

In 2022, overseas shipments of blankets and travelling rugs of synthetic fibres decreased by -1.8% to X units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 61% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling rugs of synthetic fibre exports skyrocketed to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 88%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the key exporting country with an export of about X units, which finished at 65% of total exports. It was distantly followed by Cote d'Ivoire (X units), Senegal (X units), Nigeria (X units) and Togo (X units), together comprising a 33% share of total exports. Liberia (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to travelling rugs of synthetic fibre exports from Ghana stood at +14.6%. At the same time, Liberia (+46.5%) and Cote d'Ivoire (+17.1%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +46.5% from 2012-2022. By contrast, Nigeria (-19.2%), Togo (-21.0%) and Senegal (-24.5%) illustrated a downward trend over the same period. While the share of Ghana (+59 p.p.), Cote d'Ivoire (+11 p.p.) and Liberia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-9.6 p.p.), Togo (-11.4 p.p.) and Senegal (-49 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest travelling rugs of synthetic fibre supplier in Western Africa, comprising 81% of total exports. The second position in the ranking was taken by Senegal ($X), with a 12% share of total exports. It was followed by Cote d'Ivoire, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value in Ghana totaled +28.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-20.1% per year) and Cote d'Ivoire (+21.3% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, with an increase of 33% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+11.7%), while the other leaders experienced more modest paces of growth.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of blankets and travelling rugs of synthetic fibres, which increased by 49% to X units in 2022. Overall, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, travelling rugs of synthetic fibre imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Mauritania dominates imports structure, accounting for X units, which was approx. 67% of total imports in 2022. Benin (X units) took a 7.7% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (6.9%) and Togo (6.5%). Guinea (X units), Niger (X units) and Cote d'Ivoire (X units) took a minor share of total imports.

Imports into Mauritania increased at an average annual rate of +14.5% from 2012 to 2022. At the same time, Niger (+33.1%), Cote d'Ivoire (+12.7%), Guinea (+12.1%), Ghana (+7.6%) and Togo (+1.3%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +33.1% from 2012-2022. By contrast, Benin (-3.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania and Niger increased by +26 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X) constitutes the largest market for imported blankets and travelling rugs of synthetic fibres in Western Africa, comprising 37% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Togo, with a 15% share.

In Mauritania, travelling rugs of synthetic fibre imports increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+9.1% per year) and Togo (+2.8% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, waning by -42.2% against the previous year. In general, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Togo ($X per unit), while Mauritania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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