ECOWAS: Plaster Article Market 2024

Plaster Article Market Size in ECOWAS

The ECOWAS plaster article market shrank rapidly to $X in 2021, waning by -19.2% against the previous year. Overall, consumption, however, continues to indicate a noticeable increase. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Plaster Article Production in ECOWAS

In value terms, plaster article production dropped rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a measured expansion. The growth pace was the most rapid in 2020 when the production volume increased by 120% against the previous year. As a result, production attained the peak level of $X, and then shrank markedly in the following year.

Plaster Article Exports

Exports in ECOWAS

In 2021, plaster article exports in ECOWAS surged to X tons, picking up by 1,328% on the year before. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plaster article exports soared to $X in 2021. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, accounting for X tons, which was near 94% of total exports in 2021. Ghana (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the articles of plaster or of compositions based on plaster exports, with a CAGR of +105.5% from 2012 to 2021. At the same time, Ghana (+9.6%) displayed positive paces of growth. From 2012 to 2021, the share of Senegal increased by +91 percentage points.

In value terms, Senegal ($X) emerged as the largest plaster article supplier in ECOWAS, comprising 85% of total exports. The second position in the ranking was taken by Ghana ($X), with a 7.2% share of total exports.

In Senegal, plaster article exports increased at an average annual rate of +87.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, shrinking by -70.7% against the previous year. Over the period under review, the export price faced a abrupt decrease. The pace of growth was the most pronounced in 2020 an increase of 183% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-8.9%).

Plaster Article Imports

Imports in ECOWAS

In 2021, plaster article imports in ECOWAS rose significantly to X tons, increasing by 15% compared with the previous year's figure. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.4% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 38%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, plaster article imports skyrocketed to $X in 2021. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 49% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Nigeria (X tons) was the key importer of articles of plaster or of compositions based on plaster, mixing up 43% of total imports. Ghana (X tons) held the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together took near 44% share of total imports. The following importers - Cabo Verde (X tons), Guinea (X tons) and Sierra Leone (X tons) - together made up 7.8% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +32.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plaster article importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for 80% of total imports.

Cote d'Ivoire, with a CAGR of +24.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 ECOWAS stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 16%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guinea ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform