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

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

The West African high-tenacity filament polyester yarn market expanded slightly to $X in 2021, surging by 3.1% against the previous year. Overall, consumption, however, continues to indicate modest growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, high-tenacity filament polyester yarn production shrank modestly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 31%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Polyesters

Exports in Western Africa

In 2021, approx. X tons of high-tenacity filament yarn of polyesters were exported in Western Africa; falling by -59.7% against 2020 figures. Overall, exports saw a sharp decline. The most prominent rate of growth was recorded in 2019 when exports increased by 153%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, high-tenacity filament polyester yarn exports shrank dramatically to $X in 2021. Over the period under review, exports recorded a abrupt downturn. The growth pace was the most rapid in 2019 with an increase of 476% against the previous year. The level of export peaked at $X in 2020, and then reduced markedly in the following year.

Exports by Country

Ghana represented the major exporter of high-tenacity filament yarn of polyesters in Western Africa, with the volume of exports finishing at X tons, which was approx. 87% of total exports in 2021. It was distantly followed by Nigeria (X kg), comprising a 13% share of total exports.

Ghana was also the fastest-growing in terms of the high-tenacity filament yarn of polyesters exports, with a CAGR of +47.8% from 2012 to 2021. Nigeria (-39.1%) illustrated a downward trend over the same period. Ghana (+87 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -86.7% from 2012 to 2021, respectively.

In value terms, Ghana ($X) remains the largest high-tenacity filament polyester yarn supplier in Western Africa, comprising 94% of total exports. The second position in the ranking was held by Nigeria ($X), with a 6.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at +54.6%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -65.7% against the previous year. In general, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 260% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.9%).

Imports of High-Tenacity Filament Yarn Of Polyesters

Imports in Western Africa

In 2021, approx. X tons of high-tenacity filament yarn of polyesters were imported in Western Africa; therefore, remained relatively stable against 2020. The total import volume increased at an average annual rate of +3.3% 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 2019 with an increase of 52% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, high-tenacity filament polyester yarn imports surged to $X in 2021. Total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +67.8% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 48%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) were the major importers of high-tenacity filament yarn of polyesters in 2021, finishing at near 34% and 30% of total imports, respectively. Togo (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (8.1%), Benin (8.1%) and Guinea (4.8%). Senegal (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ghana (with a CAGR of +24.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported high-tenacity filament yarn of polyesters in Western Africa, comprising 48% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 21% share of total imports. It was followed by Togo, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at +25.5%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+3.0% per year) and Togo (-6.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, rising by 28% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria ($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 (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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