ECOWAS: Illuminated Sign Market 2024

Illuminated Sign Market Size in ECOWAS

The ECOWAS illuminated sign market amounted to $X in 2021, increasing by 9.1% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Illuminated Sign Production in ECOWAS

In value terms, illuminated sign production rose sharply to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.0% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 37% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Illuminated Sign Exports

Exports in ECOWAS

In 2021, shipments abroad of illuminated signs and illuminated name-plates increased by 5.1% to X tons, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a perceptible expansion. The pace of growth was the most pronounced in 2017 with an increase of 86%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, illuminated sign exports shrank dramatically to $X in 2021. In general, exports, however, saw a noticeable decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 166%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Senegal prevails in exports structure, recording X tons, which was approx. 85% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), achieving a 5.3% share of total exports. The following exporters - Burkina Faso (X kg), Mali (X kg) and Benin (X kg) - together made up 7.8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to illuminated sign exports from Senegal stood at +3.4%. At the same time, Benin (+52.4%), Burkina Faso (+38.2%), Mali (+22.2%) and Cote d'Ivoire (+19.1%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +52.4% from 2012-2021. Senegal (+6.1 p.p.), Cote d'Ivoire (+3.9 p.p.), Burkina Faso (+3.1 p.p.), Mali (+2 p.p.) and Benin (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest illuminated sign supplier in ECOWAS, comprising 70% of total exports. The second position in the ranking was taken by Mali ($X), with a 13% share of total exports. It was followed by Cote d'Ivoire, with a 6.8% share.

In Senegal, illuminated sign exports shrank by an average annual rate of -2.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (+21.9% per year) and Cote d'Ivoire (+12.5% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with a decrease of -20.2% against the previous year. Over the period under review, the export price recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2017 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-0.2%), while the other leaders experienced a decline in the export price figures.

Illuminated Sign Imports

Imports in ECOWAS

In 2021, imports of illuminated signs and illuminated name-plates in ECOWAS soared to X tons, picking up by 42% compared with the year before. Total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.7% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 74% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, illuminated sign imports surged to $X in 2021. In general, imports showed a slight expansion. The most prominent rate of growth was recorded in 2014 with an increase of 77%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Cote d'Ivoire (X tons) and Ghana (X tons) represented the main importers of illuminated signs and illuminated name-plates in ECOWAS, together comprising 43% of total imports. Senegal (X tons) ranks next in terms of the total imports with a 13% share, followed by Mali (12%), Guinea (8.5%), Nigeria (8%) and Burkina Faso (7.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mali (with a CAGR of +50.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest illuminated sign importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Mali ($X), together accounting for 59% of total imports.

Among the main importing countries, Mali, with a CAGR of +40.7%, 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

In 2021, the import price in ECOWAS amounted to $X per ton, rising by 1.6% against the previous year. In general, the import price, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 when the import price increased by 12%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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