Western Africa: Ink-Pad Market 2024

Ink-Pad Market Size in Western Africa

For the third consecutive year, the West African ink-pad market recorded decline in sales value, which decreased by -0.3% to $X in 2022. Overall, consumption, however, recorded a deep downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ink-Pad Production in Western Africa

In value terms, ink-pad production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 35%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ink-Pad Exports

Exports in Western Africa

In 2022, exports of ink-pads in Western Africa reduced remarkably to X units, falling by -24.7% against the year before. Over the period under review, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of 861% against the previous year. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, ink-pad exports stood at $X in 2022. In general, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2020 when exports increased by 572%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire was the main exporting country with an export of about X units, which accounted for 60% of total exports. Nigeria (X units) held the second position in the ranking, distantly followed by Senegal (X units). All these countries together took approx. 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of +63.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022.

Cote d'Ivoire, with a CAGR of +46.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, jumping by 34% against the previous year. Overall, the export price continues to indicate a temperate increase. The pace of growth was the most pronounced in 2013 an increase of 262%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-1.0%), while the other leaders experienced a decline in the export price figures.

Ink-Pad Imports

Imports in Western Africa

In 2022, approx. X units of ink-pads were imported in Western Africa; growing by 7.8% compared with the previous year's figure. In general, imports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2015 when imports increased by 158%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ink-pad imports expanded rapidly to $X in 2022. Overall, imports, however, saw a abrupt setback. The growth pace was the most rapid in 2015 when imports increased by 145% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Ghana (X units) represented the main importer of ink-pads, committing 40% of total imports. It was distantly followed by Cote d'Ivoire (X units), Senegal (X units), Sierra Leone (X units) and Nigeria (X units), together achieving a 43% share of total imports. Burkina Faso (X units), Benin (X units) and Guinea-Bissau (X units) held a little share of total imports.

Imports into Ghana decreased at an average annual rate of -14.2% from 2012 to 2022. At the same time, Senegal (+10.8%) and Guinea-Bissau (+6.2%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +10.8% from 2012-2022. Burkina Faso and Sierra Leone experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-1.5%), Nigeria (-1.5%) and Benin (-2.5%) illustrated a downward trend over the same period. Senegal (+11 p.p.), Cote d'Ivoire (+10 p.p.), Sierra Leone (+3.2 p.p.), Nigeria (+2.9 p.p.), Burkina Faso (+2.2 p.p.) and Guinea-Bissau (+2 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -34.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported ink-pads in Western Africa, comprising 43% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports. It was followed by Senegal, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to -7.5%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+5.2% per year) and Senegal (+7.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, rising by 5.7% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ink-pad import price decreased by -18.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 90% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per unit), while Sierra Leone (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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