Western Africa: Aircraft Tyre Market 2024

Aircraft Tyre Market Size in Western Africa

The West African aircraft tyre market contracted to $X in 2021, with a decrease of -9.1% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Aircraft Tyre Production in Western Africa

In value terms, aircraft tyre production reduced to $X in 2021 estimated in export price. Overall, production, however, showed a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Aircraft Tyre Exports

Exports in Western Africa

In 2021, overseas shipments of tyres for aircraft increased by 176% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a temperate expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, aircraft tyre exports surged to $X in 2021. In general, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Togo was the key exporter of tyres for aircraft in Western Africa, with the volume of exports recording X units, which was near 74% of total exports in 2021. It was distantly followed by Ghana (X units), creating a 22% share of total exports.

Togo was also the fastest-growing in terms of the tyres for aircraft exports, with a CAGR of +89.1% from 2012 to 2021. Ghana (-5.3%) illustrated a downward trend over the same period. While the share of Togo (+74 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-22.5 p.p.) displayed negative dynamics.

In value terms, Togo ($X) emerged as the largest aircraft tyre supplier in Western Africa, comprising 87% of total exports. The second position in the ranking was held by Ghana ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Togo amounted to +103.9%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, increasing by 71% against the previous year. Over the period under review, the export price enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 when the export price increased by 232% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per unit), while Ghana stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+7.8%).

Aircraft Tyre Imports

Imports in Western Africa

In 2021, purchases abroad of tyres for aircraft was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 123%. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, aircraft tyre imports skyrocketed to $X in 2021. Overall, imports saw mild growth. The growth pace was the most rapid in 2016 when imports increased by 145% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, resulting at X units, which was approx. 68% of total imports in 2021. Sierra Leone (X units) ranks second in terms of the total imports with a 6.6% share, followed by Ghana (4.8%). Mauritania (X units), Senegal (X units), Niger (X units), Saint Helena, Ascension and Tristan da Cunha (X units) and Mali (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to aircraft tyre imports into Nigeria stood at +1.0%. At the same time, Senegal (+32.7%), Mali (+21.1%), Niger (+20.6%), Ghana (+11.7%), Mauritania (+6.0%) and Sierra Leone (+3.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +32.7% from 2012-2021. Saint Helena, Ascension and Tristan da Cunha experienced a relatively flat trend pattern. Nigeria (+5.7 p.p.), Senegal (+3.4 p.p.), Ghana (+3 p.p.), Saint Helena, Ascension and Tristan da Cunha (+2.6 p.p.), Niger (+2.5 p.p.), Sierra Leone (+1.8 p.p.) and Mauritania (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported tyres for aircraft in Western Africa, comprising 64% of total imports. The second position in the ranking was taken by Ghana ($X), with a 9.4% share of total imports. It was followed by Niger, with a 7.5% share.

In Nigeria, aircraft tyre imports expanded at an average annual rate of +1.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+23.9% per year) and Niger (+37.4% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, shrinking by -9.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2014 when the import price increased by 23% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was Niger ($X per unit), while Saint Helena, Ascension and Tristan da Cunha ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+13.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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