Western Africa: Market for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber 2022

Market Size for Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Western Africa

After four years of growth, the West African solid vulcanised rubber sheet market decreased by -5.4% to $X in 2021. Over the period under review, consumption recorded a perceptible setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber in Western Africa

In value terms, solid vulcanised rubber sheet production declined to $X in 2021 estimated in export price. In general, production showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Exports in Western Africa

In 2021, the amount of plates, sheets, strips for floor covering of solid vulcanised rubber exported in Western Africa soared to X tons, with an increase of 39% against 2020. Over the period under review, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2019 when exports increased by 80%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, solid vulcanised rubber sheet exports skyrocketed to $X in 2021. In general, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2019 when exports increased by 74% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Sierra Leone was the key exporter of plates, sheets, strips for floor covering of solid vulcanised rubber in Western Africa, with the volume of exports recording X tons, which was near 42% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons), Togo (X tons), Niger (X tons) and Senegal (X tons), together making up a 50% share of total exports. Nigeria (X kg) took a minor share of total exports.

Exports from Sierra Leone decreased at an average annual rate of -4.4% from 2012 to 2021. At the same time, Cote d'Ivoire (+14.3%), Nigeria (+13.0%) and Niger (+10.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +14.3% from 2012-2021. By contrast, Senegal (-5.7%), Ghana (-6.2%) and Togo (-21.5%) illustrated a downward trend over the same period. Cote d'Ivoire (+13 p.p.), Sierra Leone (+11 p.p.), Niger (+5.4 p.p.) and Nigeria (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by -33.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest solid vulcanised rubber sheet supplier in Western Africa, comprising 62% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7.3% share of total exports. It was followed by Ghana, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sierra Leone totaled -6.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+17.0% per year) and Ghana (-12.6% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, rising by 12% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 47%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+7.2%), while the other leaders experienced more modest paces of growth.

Imports of Plates, Sheets, Strips For Floor Covering Of Solid Vulcanised Rubber

Imports in Western Africa

In 2021, solid vulcanised rubber sheet imports in Western Africa dropped to X tons, with a decrease of -6.6% against 2020. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 48%. Over the period under review, imports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, solid vulcanised rubber sheet imports rose remarkably to $X in 2021. Over the period under review, imports, however, posted strong growth. The pace of growth was the most pronounced in 2015 with an increase of 63%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Nigeria (X tons) and Ghana (X tons) dominates imports structure, together achieving 81% of total imports. Cote d'Ivoire (X tons) took a 6.6% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (5%). Guinea (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were in Guinea (with a CAGR of +15.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) were the countries with the highest levels of imports in 2021, with a combined 85% share of total imports.

Ghana, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 ton in 2021, jumping by 16% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, solid vulcanised rubber sheet import price increased by +18.7% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 32%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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