Western Africa: Spectacle Non-Plastic Frame Market 2024

Spectacle Non-Plastic Frame Market Size in Western Africa

The West African spectacle non-plastic frame market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Spectacle Non-Plastic Frame Production in Western Africa

In value terms, spectacle non-plastic frame production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 35% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Spectacle Non-Plastic Frame Exports

Exports in Western Africa

In 2021, overseas shipments of non-plastic frames and mountings for spectacles and goggles decreased by -28% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 150% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacle non-plastic frame exports declined modestly to $X in 2021. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 73% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X units) and Sierra Leone (X units) represented roughly 77% of total exports in 2021. It was distantly followed by Ghana (X units), comprising a 14% share of total exports. The following exporters - Senegal (X units) and Cote d'Ivoire (X units) - together made up 6.8% of total exports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +32.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Sierra Leone ($X) and Ghana ($X) were the countries with the highest levels of exports in 2021, together comprising 88% of total exports.

Among the main exporting countries, Nigeria, with a CAGR of +41.5%, recorded 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

In 2021, the export price in Western Africa amounted to $X per unit, growing by 38% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spectacle non-plastic frame export price increased by +132.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 89%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+7.1%), while the other leaders experienced more modest paces of growth.

Spectacle Non-Plastic Frame Imports

Imports in Western Africa

In 2021, purchases abroad of non-plastic frames and mountings for spectacles and goggles increased by 4.3% to X units, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 24%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, spectacle non-plastic frame imports expanded notably to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +47.5% against 2017 indices. The pace of growth was the most pronounced in 2016 with an increase of 28% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Senegal (X units), distantly followed by Nigeria (X units), Cote d'Ivoire (X units), Cabo Verde (X units) and Ghana (X units) were the major importers of non-plastic frames and mountings for spectacles and goggles, together achieving 84% of total imports. The following importers - Mali (X units) and Niger (X units) - each reached a 6.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle non-plastic frame importing markets in Western Africa were Senegal ($X), Nigeria ($X) and Cabo Verde ($X), together comprising 66% of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of +22.9%, saw 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, surging by 7.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2016 when the import price increased by 13%. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mali ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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