Western Africa: Spectacle Glass Lenses Market 2022

Spectacle Glass Lenses Market Size in Western Africa

The West African spectacle glass lenses market dropped dramatically to $X in 2021, which is down by -19% against the previous year. Overall, consumption, however, enjoyed strong growth. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Spectacle Glass Lenses Production in Western Africa

In value terms, spectacle glass lenses production declined sharply to $X in 2021 estimated in export price. In general, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 84%. As a result, production reached the peak level of $X, and then fell significantly in the following year.

Spectacle Glass Lenses Exports

Exports in Western Africa

In 2021, overseas shipments of spectacle lenses of glass or other materials decreased by -7.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 140%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, spectacle glass lenses exports stood at $X in 2021. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 182%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Ghana (X tons) was the main exporter of spectacle lenses of glass or other materials, achieving 79% of total exports. Cote d'Ivoire (X kg) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (5.5%). Nigeria (X kg) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of +12.4% from 2012 to 2021. At the same time, Cote d'Ivoire (+22.9%) and Nigeria (+9.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.9% from 2012-2021. By contrast, Senegal (-12.7%) illustrated a downward trend over the same period. While the share of Ghana (+25 p.p.) and Cote d'Ivoire (+7.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-31.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest spectacle glass lenses supplier in Western Africa, comprising 92% of total exports. The second position in the ranking was taken by Senegal ($X), with a 1.8% share of total exports. It was followed by Cote d'Ivoire, with a 0.9% share.

In Ghana, spectacle glass lenses exports increased at an average annual rate of +13.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (+5.9% per year) and Cote d'Ivoire (+4.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with an increase of 8.8% against the previous year. Export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 152%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($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 (+21.3%), while the other leaders experienced mixed trends in the export price figures.

Spectacle Glass Lenses Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of spectacle lenses of glass or other materials, which increased by 7.1% to X tons in 2021. In general, imports posted a strong expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 405%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2021. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 71% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

In 2021, Ghana (X tons), distantly followed by Senegal (X tons), Cote d'Ivoire (X tons), Nigeria (X tons) and Cabo Verde (X tons) were the key importers of spectacle lenses of glass or other materials, together mixing up 85% of total imports. Benin (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +45.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, with a combined 57% share of total imports.

Senegal, with a CAGR of +33.1%, recorded 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

The import price in Western Africa stood at $X per ton in 2021, growing by 36% against the previous year. In general, the import price continues to indicate a noticeable increase. The growth pace was the most rapid in 2015 when the import price increased by 234% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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