Western Africa: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Western Africa

The West African rubber-to-metal and moulded article market amounted to $X in 2023, growing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Rubber-to-Metal and Moulded Articles in Western Africa

In value terms, rubber-to-metal and moulded article production rose slightly to $X in 2023 estimated in export price. Over the period under review, production posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Rubber-to-Metal and Moulded Articles

Exports in Western Africa

In 2023, shipments abroad of rubber-to-metal and moulded articles decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a noticeable descent. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, rubber-to-metal and moulded article exports shrank modestly to $X in 2023. Over the period under review, exports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of rubber-to-metal and moulded articles, namely Burkina Faso, Ghana and Nigeria, represented more than half of total export. It was distantly followed by Sierra Leone (X tons), Togo (X tons), Niger (X tons), Senegal (X tons) and Guinea (X tons), together constituting a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rubber-to-metal and moulded article supplying countries in Western Africa were Sierra Leone ($X), Ghana ($X) and Nigeria ($X), together accounting for X% of total exports. Senegal, Burkina Faso, Niger, Guinea and Togo lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. In general, the export price showed notable growth. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2023, 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 Burkina Faso ($X,667 per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports in Western Africa

In 2023, the amount of rubber-to-metal and moulded articles imported in Western Africa amounted to X tons, flattening at 2022 figures. In general, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, rubber-to-metal and moulded article imports declined to $X in 2023. Overall, imports, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Ghana (X tons), distantly followed by Benin (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Guinea (X tons), Burkina Faso (X tons), Mauritania (X tons) and Nigeria (X tons) were the main importers of rubber-to-metal and moulded articles, together generating X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest rubber-to-metal and moulded article importing markets in Western Africa were Ghana ($X), Burkina Faso ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Senegal, Nigeria, Guinea, Benin and Mauritania lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Benin, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 2023, declining by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then declined in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform