Western Africa: Hairpin Market 2024

Hairpin Market Size in Western Africa

The West African hairpin market totaled $X in 2021, picking up by 13% against the previous year. In general, consumption continues to indicate a pronounced decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Hairpin Production in Western Africa

In value terms, hairpin production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 47%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Hairpin Exports

Exports in Western Africa

After three years of growth, shipments abroad of hairpins, curling pins, curling grips and hair-curlers decreased by -16.1% to X tons in 2021. Overall, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 950%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, hairpin exports declined to $X in 2021. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 320%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana was the major exporter of hairpins, curling pins, curling grips and hair-curlers in Western Africa, with the volume of exports resulting at X tons, which was near 61% of total exports in 2021. Nigeria (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (4.8%). Togo (X kg) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of +20.4% from 2012 to 2021. At the same time, Nigeria (+22.1%) and Senegal (+11.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.1% from 2012-2021. Togo experienced a relatively flat trend pattern. While the share of Ghana (+12 p.p.) and Nigeria (+8.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-2.9 p.p.) and Togo (-12.6 p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2021, with a combined 89% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +24.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, picking up by 8.7% against the previous year. Overall, the export price, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2016 when the export price increased by 85% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+8.4%), while the other leaders experienced more modest paces of growth.

Hairpin Imports

Imports in Western Africa

In 2021, overseas purchases of hairpins, curling pins, curling grips and hair-curlers decreased by -1.5% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2016 when imports increased by 117%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hairpin imports surged to $X in 2021. Over the period under review, imports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when imports increased by 40%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons) represented the main importer of hairpins, curling pins, curling grips and hair-curlers in Western Africa, achieving 69% of total import. Nigeria (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (8.2%) and Togo (7.7%). Mali (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported hairpins, curling pins, curling grips and hair-curlers in Western Africa, comprising 59% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 13% share of total imports. It was followed by Senegal, with a 7.3% share.

In Ghana, hairpin imports expanded at an average annual rate of +5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+4.8% per year) and Senegal (+1.4% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, surging by 26% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin import price increased by +56.8% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 38% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+17.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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