Cote d'Ivoire: Polystyrene Market 2024

Polystyrene Market Size in Cote d'Ivoire

The Cote d'Ivoire's polystyrene market contracted to $X in 2022, declining by -13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +18.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Polystyrene Exports

Exports from Cote d'Ivoire

In 2022, overseas shipments of polystyrene decreased by -45.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2014 when exports increased by 560% against the previous year. The exports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, polystyrene exports contracted markedly to $X in 2022. Over the period under review, exports, however, saw a tangible increase. The pace of growth was the most pronounced in 2014 when exports increased by 324% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Ghana (X tons) and Burkina Faso (X tons) were the main destinations of polystyrene exports from Cote d'Ivoire.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +43.6%).

In value terms, Ghana ($X) emerged as the key foreign market for polystyrene exports from Cote d'Ivoire, comprising 98% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 1.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ghana stood at +18.7%.

Export Prices by Country

The average polystyrene export price stood at $X per ton in 2022, waning by -36.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 53% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Burkina Faso stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+65.7%), while the prices for the other major destinations experienced a decline.

Polystyrene Imports

Imports into Cote d'Ivoire

In 2022, the amount of polystyrene imported into Cote d'Ivoire fell to X tons, with a decrease of -12.8% on the previous year's figure. In general, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.9% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 45% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, polystyrene imports shrank notably to $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest polystyrene supplier to Cote d'Ivoire, with a 54% share of total imports. Moreover, polystyrene imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) stood at +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.2% per year) and South Korea (+10.0% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of polystyrene to Cote d'Ivoire, comprising 43% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Belgium, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.3% per year) and Belgium (+6.2% per year).

Import Prices by Country

The average polystyrene import price stood at $X per ton in 2022, falling by -3.1% against the previous year. Over the period under review, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2021 when the average import price increased by 22%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform