ECOWAS: Insulating Fittings Market 2024

Insulating Fittings Market Size in ECOWAS

In 2022, the ECOWAS insulating fittings market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded a strong expansion. The level of consumption peaked at $X in 2021, and then shrank rapidly in the following year.

Insulating Fittings Production in ECOWAS

In value terms, insulating fittings production rose modestly to $X in 2022 estimated in export price. The total production indicated prominent 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. The level of production peaked in 2022 and is expected to retain growth in years to come.

Insulating Fittings Exports

Exports in ECOWAS

In 2022, approx. X tons of insulating fittings for electrical purposes were exported in ECOWAS; growing by X% on the year before. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, insulating fittings exports skyrocketed to $X in 2022. Over the period under review, exports showed a prominent increase. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire was the largest exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Burkina Faso (X tons), mixing up a X% share of total exports. Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest insulating fittings supplying countries in ECOWAS were Burkina Faso ($X), Cote d'Ivoire ($X) and Ghana ($X), together accounting for X% of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of 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 2022, the export price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the export price figures.

Insulating Fittings Imports

Imports in ECOWAS

In 2022, after four years of growth, there was significant decline in purchases abroad of insulating fittings for electrical purposes, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, insulating fittings imports declined markedly to $X in 2022. In general, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. Ghana (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the insulating fittings for electrical purposes imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported insulating fittings for electrical purposes in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Source: IndexBox Platform

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