ECOWAS: Man-Made Filament Fabric Market 2024

Man-Made Filament Fabric Market Size in ECOWAS

The ECOWAS man-made filament fabric market rose modestly to $X in 2022, surging by X% against the previous year. The total consumption indicated measured 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Man-Made Filament Fabric Production in ECOWAS

In value terms, man-made filament fabric production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Man-Made Filament Fabric Exports

Exports in ECOWAS

In 2022, shipments abroad of woven fabrics of man-made filaments and staple fibers decreased by X% to X square meters for the first time since 2018, thus ending a three-year rising trend. Overall, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X square meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, man-made filament fabric exports totaled $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Gambia dominates exports structure, amounting to X square meters, which was near X% of total exports in 2022. Ghana (X square meters) and Cote d'Ivoire (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to man-made filament fabric exports from Gambia stood at X%. At the same time, Ghana (X%) and Cote d'Ivoire (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. While the share of Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Gambia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) remains the largest man-made filament fabric supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

In Gambia, man-made filament fabric exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. The level of export peaked at $X per square meter in 2015; however, from 2016 to 2022, 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 Gambia ($X per square meter), while Ghana ($X per square meter) was amongst the lowest.

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

Man-Made Filament Fabric Imports

Imports in ECOWAS

In 2022, approx. X square meters of woven fabrics of man-made filaments and staple fibers were imported in ECOWAS; picking up by X% compared with 2021 figures. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. The volume of import peaked at X square meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, man-made filament fabric imports contracted remarkably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X square meters) was the main importer of woven fabrics of man-made filaments and staple fibers, constituting X% of total imports. Ghana (X square meters) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Togo (X%), Burkina Faso (X%), Gambia (X%), Guinea (X%) and Benin (X%).

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Senegal (X%), Ghana (X%), Burkina Faso (X%), Gambia (X%) and Togo (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. By contrast, Benin (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Senegal, Ghana and Guinea increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Senegal ($X) and Gambia ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Senegal, with a CAGR of X%, 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 ECOWAS stood at $X per square meter in 2022, falling by X% against the previous year. Overall, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked at $X per square meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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