Western Africa: Market for Boards, Sheets, Panels, Tiles And Similar Articles Of Plaster Not Faced 2024

Market Size for Boards, Sheets, Panels, Tiles And Similar Articles Of Plaster Not Faced in Western Africa

The West African market for boards, sheets, panels, tiles and similar articles of plaster not faced rose markedly to $X in 2021, with an increase of 8.8% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Boards, Sheets, Panels, Tiles And Similar Articles Of Plaster Not Faced in Western Africa

In value terms, production of boards, sheets, panels, tiles and similar articles of plaster not faced rose remarkably to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 23% against the previous year. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Boards, Sheets, Panels, Tiles And Similar Articles Of Plaster Not Faced

Exports in Western Africa

In 2021, overseas shipments of boards, sheets, panels, tiles and similar articles of plaster not faced were finally on the rise to reach X square meters after two years of decline. Over the period under review, exports enjoyed a prominent increase. The growth pace was the most rapid in 2015 with an increase of 252% against the previous year. As a result, the exports reached the peak of X square meters. From 2016 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of boards, sheets, panels, tiles and similar articles of plaster not faced fell rapidly to $X in 2021. Overall, exports, however, continue to indicate a mild contraction. The pace of growth was the most pronounced in 2015 with an increase of 228%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

In 2021, Ghana (X square meters) was the main exporter of boards, sheets, panels, tiles and similar articles of plaster not faced, mixing up 82% of total exports. It was distantly followed by Nigeria (X square meters), making up a 13% share of total exports. Cote d'Ivoire (X square meters) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of +13.0% from 2012 to 2021. At the same time, Cote d'Ivoire (+67.5%) and Nigeria (+12.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +67.5% from 2012-2021. While the share of Cote d'Ivoire (+4.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest board, sheet, panel, tile and similar article of plaster not faced supplier in Western Africa, comprising 87% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana totaled +1.5%. In the other countries, the average annual rates were as follows: Nigeria (-12.8% per year) and Cote d'Ivoire (+6.5% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per square meter, declining by -61.2% against the previous year. Over the period under review, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of 22%. Over the period under review, the export prices hit record highs at $X per square meter in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per square meter), while Cote d'Ivoire ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-10.2%), while the other leaders experienced a decline in the export price figures.

Imports of Boards, Sheets, Panels, Tiles And Similar Articles Of Plaster Not Faced

Imports in Western Africa

In 2021, imports of boards, sheets, panels, tiles and similar articles of plaster not faced in Western Africa skyrocketed to X square meters, rising by 17% against the year before. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 29% against the previous year. Over the period under review, imports of attained the peak figure at X square meters in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of boards, sheets, panels, tiles and similar articles of plaster not faced skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in faced structure, reaching X square meters, which was near 55% of total imports in 2021. Cabo Verde (X square meters) held the second position in the ranking, followed by Ghana (X square meters), Cote d'Ivoire (X square meters), Senegal (X square meters) and Guinea (X square meters). All these countries together took near 36% share of total imports. Sierra Leone (X square meters) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to board, sheet, panel, tile and similar article of plaster not faced imports into Nigeria stood at -2.3%. At the same time, Sierra Leone (+47.5%), Cote d'Ivoire (+30.2%), Senegal (+18.9%), Ghana (+13.1%), Guinea (+7.4%) and Cabo Verde (+7.4%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +47.5% from 2012-2021. While the share of Cote d'Ivoire (+6.4 p.p.), Senegal (+4.7 p.p.), Ghana (+4.4 p.p.), Cabo Verde (+3.6 p.p.), Sierra Leone (+2.1 p.p.) and Guinea (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-26.8 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported boards, sheets, panels, tiles and similar articles of plaster not faced in Western Africa, comprising 52% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Ghana, with a 9.7% share.

In Nigeria, imports of boards, sheets, panels, tiles and similar articles of plaster not faced remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+31.4% per year) and Ghana (+19.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per square meter in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 an increase of 37% against the previous year. Over the period under review, import prices reached the maximum at $X per square meter in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per square meter), while Cabo Verde ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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