Western Africa: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Western Africa

In 2022, the West African spindles and spindle flyer market decreased by -67.4% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, enjoyed buoyant growth. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Western Africa

In value terms, spindles and spindle flyer production amounted to $X in 2022 estimated in export price. In general, production, however, showed a deep setback. The growth pace was the most rapid in 2014 when the production volume increased by 15%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports in Western Africa

In 2022, shipments abroad of spindles and spindle flyers, spinning ring and ring travellers decreased by -44.4% to X kg, falling for the third consecutive year after three years of growth. Over the period under review, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2017 with an increase of 6,367% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, spindles and spindle flyer exports dropped notably to $X in 2022. Overall, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 4,780% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Nigeria (X kg), together accounting for 100% of total export.

Nigeria was also the fastest-growing in terms of the spindles and spindle flyers, spinning ring and ring travellers exports, with a CAGR of +9.6% from 2012 to 2022. While the share of Nigeria (+97 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest spindles and spindle flyer supplier in Western Africa.

In Nigeria, spindles and spindle flyer exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, jumping by 19% against the previous year. In general, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 703%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -9.1% per year.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports in Western Africa

In 2022, purchases abroad of spindles and spindle flyers, spinning ring and ring travellers decreased by -71.1% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted strong growth. The growth pace was the most rapid in 2015 when imports increased by 2,279% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, spindles and spindle flyer imports reduced rapidly to $X in 2022. In general, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 2,245% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was near 94% of total imports in 2022. Niger (X tons) took a little share of total imports.

Nigeria was also the fastest-growing in terms of the spindles and spindle flyers, spinning ring and ring travellers imports, with a CAGR of +43.8% from 2012 to 2022. At the same time, Niger (+33.9%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria and Niger increased by +83 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported spindles and spindle flyers, spinning ring and ring travellers in Western Africa, comprising 90% of total imports. The second position in the ranking was taken by Niger ($X), with a 3.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +45.3%.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, surging by 11% against the previous year. Overall, the import price, however, showed a perceptible decrease. The growth pace was the most rapid in 2016 when the import price increased by 76% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Niger ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+1.0%).

Source: IndexBox Platform

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