Western Africa: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Western Africa

In 2021, the West African pharmaceutical rubber articles market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.6% over the period 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 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Pharmaceutical Rubber Articles Production in Western Africa

In value terms, pharmaceutical rubber articles production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Pharmaceutical Rubber Articles Exports

Exports in Western Africa

In 2021, shipments abroad of hygienic or pharmaceutical articles of rubber decreased by -53.3% to X units, falling for the third consecutive year after two years of growth. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 68%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports fell markedly to $X in 2021. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 88% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of hygienic or pharmaceutical articles of rubber, namely Mali, Togo and Cote d'Ivoire, represented more than half of total export. It was distantly followed by Ghana (X units), Nigeria (X units) and Sierra Leone (X units), together mixing up a 30% share of total exports. Senegal (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of +29.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pharmaceutical rubber articles supplying countries in Western Africa were Senegal ($X), Ghana ($X) and Mali ($X), with a combined 70% share of total exports.

In terms of the main exporting countries, Mali, with a CAGR of +31.6%, recorded the highest rates of growth with regard to 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 unit in 2021, rising by 6.1% against the previous year. In general, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2017 when the export price increased by 75% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+15.2%), while the other leaders experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports in Western Africa

In 2021, approx. X units of hygienic or pharmaceutical articles of rubber were imported in Western Africa; declining by -27% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 224% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports dropped notably to $X in 2021. In general, imports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 352%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the main importer of hygienic or pharmaceutical articles of rubber in Western Africa, with the volume of imports resulting at X units, which was approx. 57% of total imports in 2021. Burkina Faso (X units) took the second position in the ranking, distantly followed by Ghana (X units). All these countries together held approx. 33% share of total imports. The following importers - Senegal (X units), Cote d'Ivoire (X units) and Niger (X units) - together made up 7.1% of total imports.

Imports into Nigeria increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, Niger (+21.1%), Burkina Faso (+10.7%) and Ghana (+4.0%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +21.1% from 2012-2021. By contrast, Senegal (-3.3%) and Cote d'Ivoire (-8.7%) illustrated a downward trend over the same period. While the share of Burkina Faso (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Senegal (-2.2 p.p.), Nigeria (-2.7 p.p.) and Cote d'Ivoire (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pharmaceutical rubber articles importing markets in Western Africa were Nigeria ($X), Burkina Faso ($X) and Ghana ($X), with a combined 68% share of total imports. Cote d'Ivoire, Senegal and Niger lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Niger, with a CAGR of +20.8%, recorded the highest growth rate of 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

The import price in Western Africa stood at $X per unit in 2021, waning by -5.6% against the previous year. Over the period under review, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 40%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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