Western Africa: Cellulose Fibrecement Sheet Market 2024

Cellulose Fibrecement Sheet Market Size in Western Africa

The West African cellulose fibrecement sheet market declined to $X in 2022, waning by -3.2% against the previous year. Over the period under review, consumption recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 6.1% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cellulose Fibrecement Sheet Production in Western Africa

In value terms, cellulose fibrecement sheet production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 7.3%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cellulose Fibrecement Sheet Exports

Exports in Western Africa

After three years of growth, overseas shipments of sheets, panels and tiles of cellulose fibrecement decreased by -1.2% to X tons in 2022. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2014 when exports increased by 43% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cellulose fibrecement sheet exports rose markedly to $X in 2022. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2014 when exports increased by 28% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, reaching X tons, which was near 85% of total exports in 2022. It was distantly followed by Ghana (X tons), constituting an 8% share of total exports. The following exporters - Togo (X tons) and Cote d'Ivoire (X tons) - together made up 6.9% of total exports.

Exports from Nigeria decreased at an average annual rate of -8.0% from 2012 to 2022. At the same time, Togo (+14.6%) and Ghana (+2.3%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +14.6% from 2012-2022. By contrast, Cote d'Ivoire (-4.8%) illustrated a downward trend over the same period. While the share of Ghana (+5 p.p.) and Togo (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cellulose fibrecement sheet supplying countries in Western Africa were Ghana ($X), Nigeria ($X) and Togo ($X), with a combined 94% share of total exports.

Among the main exporting countries, Togo, with a CAGR of +25.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by 12% against the previous year. Overall, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 63%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+9.5%), while the other leaders experienced mixed trends in the export price figures.

Cellulose Fibrecement Sheet Imports

Imports in Western Africa

After three years of growth, overseas purchases of sheets, panels and tiles of cellulose fibrecement decreased by -9.3% to X tons in 2022. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 186%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, cellulose fibrecement sheet imports reduced modestly to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 179%. Over the period under review, imports hit record highs at $X in 2021, and then declined modestly in the following year.

Imports by Country

Ghana represented the key importer of sheets, panels and tiles of cellulose fibrecement in Western Africa, with the volume of imports accounting for X tons, which was approx. 49% of total imports in 2022. Senegal (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Benin (15%) and Nigeria (5.8%). Togo (X tons) and Cabo Verde (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cellulose fibrecement sheet imports into Ghana stood at +18.9%. At the same time, Senegal (+40.0%), Benin (+22.3%), Nigeria (+15.9%) and Cabo Verde (+9.6%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +40.0% from 2012-2022. Togo experienced a relatively flat trend pattern. While the share of Senegal (+19 p.p.), Ghana (+5.8 p.p.) and Benin (+5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cabo Verde (-1.7 p.p.) and Togo (-12 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined 78% share of total imports.

Senegal, with a CAGR of +35.6%, saw the highest growth rate of 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

In 2022, the import price in Western Africa amounted to $X per ton, with an increase of 7.9% against the previous year. Overall, the import price, however, showed a slight reduction. The growth pace was the most rapid in 2013 an increase of 46%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the 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 Nigeria ($X per ton), while Togo ($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 (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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