Western Africa: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2025

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Western Africa

The West African market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) reduced to $X in 2021, with a decrease of -11.2% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then fell in the following year.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Western Africa

In value terms, LCD or LED indicator panel production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period 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 2020 when the production volume increased by 26% against the previous year. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports in Western Africa

In 2021, overseas shipments of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) were finally on the rise to reach X units after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 52%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, LCD or LED indicator panel exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2015 with an increase of 45% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Benin represented the main exporter of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) in Western Africa, with the volume of exports finishing at X units, which was approx. 44% of total exports in 2021. Nigeria (X units) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Niger (9%), Cote d'Ivoire (7.7%) and Ghana (7.1%). Gambia (X units) and Cabo Verde (X units) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to LCD or LED indicator panel exports from Benin stood at +61.7%. At the same time, Gambia (+106.4%), Niger (+11.0%), Nigeria (+9.0%) and Ghana (+7.5%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +106.4% from 2012-2021. By contrast, Cote d'Ivoire (-11.9%) and Cabo Verde (-18.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Benin, Nigeria, Niger, Gambia and Ghana increased by +44, +9.9, +5.5, +4.3 and +3.4 percentage points, respectively.

In value terms, the largest LCD or LED indicator panel supplying countries in Western Africa were Benin ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined 80% share of total exports. Niger, Ghana, Cabo Verde and Gambia lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Gambia, with a CAGR of +66.8%, saw 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 unit in 2021, with an increase of 33% against the previous year. In general, the export price, however, recorded a pronounced reduction. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per unit), while Gambia ($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 (+18.1%), while the other leaders experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports in Western Africa

In 2021, the amount of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) imported in Western Africa dropped rapidly to X units, waning by -35% compared with the previous year. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 134% against the previous year. As a result, imports attained the peak of X units, and then declined rapidly in the following year.

In value terms, LCD or LED indicator panel imports totaled $X in 2021. Overall, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2014 with an increase of 143% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X units) represented the largest importer of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), comprising 54% of total imports. Ghana (X units) ranks second in terms of the total imports with a 15% share, followed by Cote d'Ivoire (10%) and Senegal (9.7%). Togo (X units), Guinea (X units) and Burkina Faso (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) imports, with a CAGR of +24.6% from 2012 to 2021. At the same time, Burkina Faso (+23.1%), Togo (+18.2%) and Guinea (+14.0%) displayed positive paces of growth. Senegal experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-1.7%) and Ghana (-15.4%) illustrated a downward trend over the same period. While the share of Nigeria (+47 p.p.), Burkina Faso (+2 p.p.), Togo (+2 p.p.) and Guinea (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-47.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) in Western Africa, comprising 61% of total imports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total imports. It was followed by Senegal, with a 7.9% share.

In Nigeria, LCD or LED indicator panel imports expanded at an average annual rate of +25.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-7.8% per year) and Senegal (+14.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, jumping by 55% against the previous year. Overall, the import price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2013 when the import price increased by 125%. Over the period under review, import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Burkina Faso ($X per unit), while Togo ($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 (+13.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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