Western Africa: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Western Africa

The West African high-tenacity filament aramids yarn market fell to $X in 2022, approximately mirroring the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of High-Tenacity Filament Yarn Of Aramids in Western Africa

In value terms, high-tenacity filament aramids yarn production dropped to $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports in Western Africa

High-tenacity filament aramids yarn exports contracted markedly to X tons in 2022, waning by -36.1% compared with the previous year. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 1,178% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined remarkably in the following year.

In value terms, high-tenacity filament aramids yarn exports reduced rapidly to $X in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 1,405% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

The biggest shipments were from Niger (X tons), together finishing at 100% of total export.

Niger was also the fastest-growing in terms of the high-tenacity filament yarn of aramids exports, with a CAGR of +32.6% from 2012 to 2022. Niger (+17 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) also remains the largest high-tenacity filament aramids yarn supplier in Western Africa.

From 2012 to 2022, the average annual rate of growth in terms of value in Niger totaled +38.3%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, standing approx. at the previous year. Export price indicated perceptible growth 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. Based on 2022 figures, high-tenacity filament aramids yarn export price increased by +67.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 49%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then declined modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to +4.3% per year.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports in Western Africa

High-tenacity filament aramids yarn imports declined dramatically to X kg in 2022, shrinking by -43.7% compared with the previous year's figure. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 610% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn imports dropped notably to $X in 2022. In general, imports saw a perceptible reduction. The pace of growth was the most pronounced in 2021 when imports increased by 667% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of high-tenacity filament yarn of aramids, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the high-tenacity filament yarn of aramids imports, with a CAGR of -10.9% from 2012 to 2022. Nigeria (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported high-tenacity filament yarn of aramids in Western Africa.

In Nigeria, high-tenacity filament aramids yarn imports declined by an average annual rate of -2.1% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, remaining stable against the previous year. Overall, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 an increase of 115%. The level of import peaked at $X per ton in 2021, and then dropped in the following year.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +9.8% per year.

Source: IndexBox Platform

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