Kenya: Illuminated Sign Market 2024

Illuminated Sign Market Size in Kenya

The Kenyan illuminated sign market reduced to $X in 2021, declining by -6.2% against the previous year. Over the period under review, consumption continues to indicate a noticeable descent. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Illuminated Sign Production in Kenya

In value terms, illuminated sign production fell modestly to $X in 2021 estimated in export price. Over the period under review, production saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 73% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Illuminated Sign Exports

Exports from Kenya

In 2021, the amount of illuminated signs and illuminated name-plates exported from Kenya surged to X tons, rising by 148% against the year before. In general, exports showed strong growth. The growth pace was the most rapid in 2013 with an increase of 187% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, illuminated sign exports surged to $X in 2021. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 163% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Rwanda (X tons) was the main destination for illuminated sign exports from Kenya, accounting for a 54% share of total exports. Moreover, illuminated sign exports to Rwanda exceeded the volume sent to the second major destination, Tanzania (X tons), threefold. Madagascar (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume to Rwanda stood at +41.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+6.9% per year) and Madagascar (+13.6% per year).

In value terms, the largest markets for illuminated sign exported from Kenya were Rwanda ($X), Democratic Republic of the Congo ($X) and Tanzania ($X), with a combined 83% share of total exports.

Democratic Republic of the Congo, with a CAGR of +140.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average illuminated sign export price amounted to $X per ton, rising by 2.1% against the previous year. In general, the export price, however, saw a noticeable descent. The pace of growth appeared the most rapid in 2014 when the average export price increased by 31% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Rwanda ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Illuminated Sign Imports

Imports into Kenya

In 2021, approx. X tons of illuminated signs and illuminated name-plates were imported into Kenya; falling by -29.4% against the previous year. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 185%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, illuminated sign imports contracted dramatically to $X in 2021. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 174%. Imports peaked at $X in 2020, and then dropped sharply in the following year.

Imports by Country

Malaysia (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of illuminated sign imports to Kenya, with a combined 52% share of total imports. Turkey, Saudi Arabia, South Africa, Rwanda and Hungary lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +52.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United Arab Emirates ($X) and China ($X) constituted the largest illuminated sign suppliers to Kenya, together accounting for 40% of total imports. Turkey, South Africa, Hungary, Saudi Arabia and Rwanda lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +63.7%, saw the highest rates of growth with regard to 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 average illuminated sign import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2019 when the average import price increased by 33%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Rwanda ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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