ECOWAS: Safety Glass Market 2024

Safety Glass Market Size in ECOWAS

The ECOWAS safety glass market dropped to $X in 2023, declining by X% against the previous year. Overall, consumption, however, continues to indicate a strong increase. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Safety Glass Production in ECOWAS

In value terms, safety glass production dropped slightly to $X in 2023 estimated in export price. Overall, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Safety Glass Exports

Exports in ECOWAS

In 2023, overseas shipments of safety glass decreased by X% to X square meters for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports reached the peak of X square meters, and then dropped dramatically in the following year.

In value terms, safety glass exports fell dramatically to $X in 2023. In general, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then contracted sharply in the following year.

Exports by Country

Nigeria dominates exports structure, reaching X square meters, which was near X% of total exports in 2023. It was distantly followed by Ghana (X square meters), committing a X% share of total exports. Cabo Verde (X square meters), Togo (X square meters), Niger (X square meters), Gambia (X square meters) and Sierra Leone (X square meters) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to safety glass exports from Nigeria stood at X%. At the same time, Togo (X%), Cabo Verde (X%), Gambia (X%), Sierra Leone (X%) and Niger (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Ghana experienced a relatively flat trend pattern. While the share of Nigeria (X p.p.), Togo (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Togo ($X) and Niger ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, Togo, with a CAGR of X%, recorded 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 2023, the export price in ECOWAS amounted to $X per square meter, jumping by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The level of export peaked at $X per square meter in 2013; however, from 2014 to 2023, 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 Niger ($X per square meter), while Nigeria ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Safety Glass Imports

Imports in ECOWAS

In 2023, overseas purchases of safety glass decreased by X% to X square meters, falling for the second year in a row after six years of growth. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X square meters in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, safety glass imports dropped remarkably to $X in 2023. Total imports indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then fell dramatically in the following year.

Imports by Country

In 2023, Senegal (X square meters), distantly followed by Nigeria (X square meters), Ghana (X square meters), Cote d'Ivoire (X square meters) and Sierra Leone (X square meters) represented the largest importers of safety glass, together creating X% of total imports. Cabo Verde (X square meters) and Guinea (X square meters) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety glass importing markets in ECOWAS were Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports.

Among the main importing countries, Senegal, with a CAGR of X%, recorded 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 2023, the import price in ECOWAS amounted to $X per square meter, picking up by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per square meter in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guinea ($X per square meter), while Ghana ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform