ECOWAS: Textile Wadding Market 2024

Textile Wadding Market Size in ECOWAS

In 2022, the ECOWAS textile wadding market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then declined slightly in the following year.

Textile Wadding Production in ECOWAS

In value terms, textile wadding production amounted to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Textile Wadding Exports

Exports in ECOWAS

In 2022, the amount of wadding of textile materials and articles thereof exported in ECOWAS expanded significantly to X tons, growing by X% on 2021. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, textile wadding exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X tons), comprising a X% share of total exports. Burkina Faso (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to textile wadding exports from Senegal stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Ghana increased by X and X percentage points, respectively.

In value terms, Senegal ($X) remains the largest textile wadding supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Textile Wadding Imports

Imports in ECOWAS

In 2022, overseas purchases of wadding of textile materials and articles thereof decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a mild decline. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, textile wadding imports contracted to $X in 2022. Overall, imports, however, posted prominent growth. The growth pace was the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Nigeria (X tons), Ghana (X tons), Senegal (X tons), Mali (X tons), Burkina Faso (X tons) and Togo (X tons) were the largest importers of wadding of textile materials and articles thereof, together committing X% of total imports. Guinea (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to textile wadding imports into Cote d'Ivoire stood at X%. At the same time, Guinea (X%), Burkina Faso (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Togo experienced a relatively flat trend pattern. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Ghana, Burkina Faso, Guinea and Mali increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported wadding of textile materials and articles thereof in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Mali, with a X% share.

In Cote d'Ivoire, textile wadding imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Mali (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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