Western Africa: Smoothing Iron Market 2024

Smoothing Iron Market Size in Western Africa

The West African smoothing iron market rose to $X in 2022, picking up by X% against the previous year. The total consumption 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, 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.

Smoothing Iron Production in Western Africa

In value terms, smoothing iron production totaled $X in 2022 estimated in export price. The total production indicated a buoyant expansion 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 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Smoothing Iron Exports

Exports in Western Africa

After two years of decline, shipments abroad of electric smoothing irons increased by X% to X units in 2022. In general, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, smoothing iron exports soared to $X in 2022. Overall, exports posted strong growth. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X units) and Sierra Leone (X units) were the major exporters of electric smoothing irons in Western Africa, together constituting X% of total exports. It was distantly followed by Senegal (X units), Nigeria (X units), Cote d'Ivoire (X units) and Liberia (X units), together achieving a X% share of total exports.

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

In value terms, the largest smoothing iron supplying countries in Western Africa were Sierra Leone ($X), Ghana ($X) and Senegal ($X), together comprising X% of total exports. Nigeria, Cote d'Ivoire and Liberia lagged somewhat behind, together comprising a further X%.

Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price 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, smoothing iron export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Ghana ($X per unit) 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.

Smoothing Iron Imports

Imports in Western Africa

For the fourth year in a row, Western Africa recorded growth in purchases abroad of electric smoothing irons, which increased by X% to X units in 2022. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, smoothing iron imports declined to $X in 2022. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana was the main importing country with an import of about X units, which accounted for X% of total imports. It was distantly followed by Nigeria (X units), Guinea (X units) and Liberia (X units), together committing a X% share of total imports. Sierra Leone (X units), Gambia (X units), Senegal (X units) and Cabo Verde (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to smoothing iron imports into Ghana stood at X%. At the same time, Gambia (X%), Sierra Leone (X%), Guinea (X%), Liberia (X%), Senegal (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Guinea (X p.p.), Liberia (X p.p.), Sierra Leone (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Guinea, Liberia, Sierra Leone, Gambia and Cabo Verde lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Gambia, with a CAGR of X%, 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

The import price in Western Africa stood at $X per unit in 2022, dropping by X% against the previous year. In general, the import price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Nigeria ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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