Western Africa: Footwear Treatments Market 2024

Footwear Treatments Market Size in Western Africa

The West African footwear treatments market shrank rapidly to $X in 2022, reducing by -15% against the previous year. Over the period under review, consumption continues to indicate a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Footwear Treatments Production in Western Africa

In value terms, footwear treatments production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Footwear Treatments Exports

Exports in Western Africa

In 2022, approx. X tons of polishes and creams for footwear or leather were exported in Western Africa; which is down by -29.1% against the previous year. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 147%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, footwear treatments exports shrank to $X in 2022. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2015 when exports increased by 92% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria was the largest exporter of polishes and creams for footwear or leather in Western Africa, with the volume of exports resulting at X tons, which was approx. 84% of total exports in 2022. It was distantly followed by Ghana (X tons), mixing up a 13% share of total exports.

Exports from Nigeria decreased at an average annual rate of -7.1% from 2012 to 2022. At the same time, Ghana (+11.8%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +11.8% from 2012-2022. From 2012 to 2022, the share of Ghana increased by +11 percentage points.

In value terms, Nigeria ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Ghana, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with an increase of 22% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 34%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.7%).

Footwear Treatments Imports

Imports in Western Africa

Footwear treatments imports plummeted to X tons in 2022, falling by -19% compared with the year before. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 77%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, footwear treatments imports reduced sharply to $X in 2022. Over the period under review, imports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2020 with an increase of 48%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria (X tons) and Ghana (X tons) prevails in imports structure, together creating 83% of total imports. The following importers - Senegal (X tons), Liberia (X tons), Guinea (X tons) and Sierra Leone (X tons) - together made up 13% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Sierra Leone (with a CAGR of +5.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 86% share of total imports. Liberia, Guinea and Sierra Leone lagged somewhat behind, together comprising a further 9.9%.

Sierra Leone, with a CAGR of +7.7%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in Western Africa amounted to $X per ton, growing by 3.6% against the previous year. Over the period under review, the import price recorded a strong increase. The most prominent rate of growth was recorded in 2014 when the import price increased by 150% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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