Western Africa: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Western Africa

In 2022, the West African market for glaziers putty, grafting putty, other mastics and painters' fillings increased by 0.2% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption, however, continues to indicate a pronounced decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in Western Africa

In value terms, production of glaziers putty, grafting putty, other mastics and painters' fillings contracted to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 20%. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports in Western Africa

In 2022, approx. X tons of glaziers putty, grafting putty, other mastics and painters' fillings were exported in Western Africa; dropping by -27.8% compared with 2021 figures. In general, exports saw a deep contraction. The growth pace was the most rapid in 2015 with an increase of 113% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings shrank dramatically to $X in 2022. Overall, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 66%. Over the period under review, the exports of reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana was the largest exporter of glaziers putty, grafting putty, other mastics and painters' fillings in Western Africa, with the volume of exports resulting at X tons, which was near 60% of total exports in 2022. Cote d'Ivoire (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (10%) and Nigeria (9.2%).

From 2012 to 2022, average annual rates of growth with regard to glaziers, grafting putty and painters' filling exports from Ghana stood at +28.8%. At the same time, Nigeria (+32.4%) and Senegal (+6.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +32.4% from 2012-2022. By contrast, Cote d'Ivoire (-19.0%) illustrated a downward trend over the same period. While the share of Ghana (+57 p.p.), Nigeria (+8.9 p.p.) and Senegal (+7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-69.7 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest glaziers, grafting putty and painters' filling supplier in Western Africa, comprising 44% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 21% share of total exports. It was followed by Nigeria, with a 15% share.

In Ghana, exports of glaziers putty, grafting putty, other mastics and painters' fillings increased at an average annual rate of +26.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-29.4% per year) and Nigeria (+37.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by 7.7% against the previous year. Over the period under review, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2013 an increase of 43%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports in Western Africa

In 2022, purchases abroad of glaziers putty, grafting putty, other mastics and painters' fillings increased by 13% to X tons, rising for the sixth consecutive year after four years of decline. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by 62% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings shrank to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.3% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Nigeria represented the major importer of glaziers putty, grafting putty, other mastics and painters' fillings in Western Africa, with the volume of imports finishing at X tons, which was near 42% of total imports in 2022. Benin (X tons) ranks second in terms of the total imports with a 14% share, followed by Ghana (13%), Senegal (7.8%) and Cote d'Ivoire (7.1%). The following importers - Liberia (X tons) and Guinea (X tons) - each reached a 5.7% share of total imports.

Imports into Nigeria increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Benin (+31.1%), Senegal (+20.7%), Liberia (+19.5%), Cote d'Ivoire (+18.5%) and Ghana (+1.6%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +31.1% from 2012-2022. By contrast, Guinea (-5.9%) illustrated a downward trend over the same period. Benin (+12 p.p.), Senegal (+5.7 p.p.), Cote d'Ivoire (+4.8 p.p.) and Liberia (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria, Guinea and Ghana saw its share reduced by -5%, -5.8% and -6.4% from 2012 to 2022, respectively.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 72% of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +17.1%, saw the highest rates of growth with regard to 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

In 2022, the import price in Western Africa amounted to $X per ton, shrinking by -17.4% against the previous year. In general, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 an increase of 28%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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