ECOWAS - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Synthetic Rubber (Excluding Latex) 2024
Market Size for Synthetic Rubber (Excluding Latex) in ECOWAS
The ECOWAS synthetic rubber (excluding latex) market totaled $X in 2023, surging by X% against the previous year. Over the period under review, consumption saw a mild reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.
Production of Synthetic Rubber (Excluding Latex) in ECOWAS
In value terms, synthetic rubber (excluding latex) production expanded modestly to $X in 2023 estimated in export price. Overall, production showed a perceptible slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.
Exports of Synthetic Rubber (Excluding Latex)
Exports in ECOWAS
In 2023, the amount of synthetic rubber (excluding latex) exported in ECOWAS stood at X tons, approximately equating the previous year's figure. Over the period under review, exports showed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.
In value terms, synthetic rubber (excluding latex) exports shrank modestly to $X in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Cote d'Ivoire represented the major exporter of synthetic rubber (excluding latex) in ECOWAS, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Nigeria (X tons), comprising a X% share of total exports.
Cote d'Ivoire was also the fastest-growing in terms of the synthetic rubber (excluding latex) exports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%) displayed positive paces of growth. While the share of Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Cote d'Ivoire ($X) remains the largest synthetic rubber (excluding latex) supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value in Cote d'Ivoire stood at X%.
Export Prices by Country
In 2023, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria amounted to $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).
Imports of Synthetic Rubber (Excluding Latex)
Imports in ECOWAS
In 2023, the amount of synthetic rubber (excluding latex) imported in ECOWAS soared to X tons, increasing by X% on 2022. Over the period under review, imports saw a noticeable increase. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.
In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2023. Total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in years to come.
Imports by Country
Nigeria prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by Cote d'Ivoire (X tons), generating a X% share of total imports. Ghana (X tons) and Benin (X tons) followed a long way behind the leaders.
Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Benin (X p.p.), Ghana (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price recorded a mild descent. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20171090 - Synthetic rubber (excluding latex)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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