Western Africa: Man-Made Filament Yarn Market 2024

Man-Made Filament Yarn Market Size in Western Africa

The West African man-made filament yarn market fell modestly to $X in 2021, which is down by -4.3% against the previous year. Over the period under review, consumption recorded a noticeable decrease. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Man-Made Filament Yarn Production in Western Africa

In value terms, man-made filament yarn production totaled $X in 2021 estimated in export price. In general, production saw a perceptible downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by 33%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Man-Made Filament Yarn Exports

Exports in Western Africa

After two years of decline, shipments abroad of man-made filament yarn increased by 27% to X tons in 2021. Over the period under review, exports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 136% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, man-made filament yarn exports surged to $X in 2021. In general, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal was the key exporting country with an export of around X tons, which reached 51% of total exports. It was distantly followed by Benin (X tons), Nigeria (X tons) and Ghana (X tons), together constituting a 47% share of total exports. Togo (X tons) took a minor share of total exports.

Senegal was also the fastest-growing in terms of the man-made filament yarn exports, with a CAGR of +19.7% from 2012 to 2021. At the same time, Benin (+4.6%) displayed positive paces of growth. By contrast, Ghana (-3.2%), Togo (-8.6%) and Nigeria (-19.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal and Benin increased by +44 and +13 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest man-made filament yarn supplier in Western Africa, comprising 92% of total exports. The second position in the ranking was held by Ghana ($X), with a 3.3% share of total exports. It was followed by Nigeria, with a 1.9% share.

In Senegal, man-made filament yarn exports increased at an average annual rate of +22.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+3.8% per year) and Nigeria (-22.7% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, growing by 163% against the previous year. In general, the export price showed a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($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 (+21.4%), while the other leaders experienced more modest paces of growth.

Man-Made Filament Yarn Imports

Imports in Western Africa

In 2021, the amount of man-made filament yarn imported in Western Africa declined notably to X tons, which is down by -26.4% compared with 2020. Overall, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 41% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, man-made filament yarn imports reduced to $X in 2021. In general, imports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 12%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Ghana (X tons), distantly followed by Nigeria (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Mali (X tons) represented the major importers of man-made filament yarn, together achieving 83% of total imports. The following importers - Guinea (X tons) and Burkina Faso (X tons) - each recorded an 8.9% 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 Mali (with a CAGR of +25.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest man-made filament yarn importing markets in Western Africa were Senegal ($X), Ghana ($X) and Nigeria ($X), with a combined 68% share of total imports. These countries were followed by Mali, Cote d'Ivoire, Guinea and Burkina Faso, which together accounted for a further 25%.

Among the main importing countries, Mali, with a CAGR of +41.4%, 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

In 2021, the import price in Western Africa amounted to $X per ton, growing by 35% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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 Mali ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+12.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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