ECOWAS: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in ECOWAS

The ECOWAS market for cellular plates, sheets and films of polyymers of styrene fell modestly to $X in 2022, flattening at the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -2.0% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in ECOWAS

In value terms, production of cellular plates, sheets and films of polyymers of styrene fell modestly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.7% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by 24% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports in ECOWAS

After three years of growth, overseas shipments of cellular plates, sheets and films of polyymers of styrene decreased by -94.6% to X tons in 2022. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 788%. The volume of export peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene shrank dramatically to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 817% against the previous year. The level of export peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

In 2022, Ghana (X tons) represented the main exporter of cellular plates, sheets and films of polyymers of styrene, mixing up 76% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a 16% share, followed by Togo (8.2%).

Exports from Ghana increased at an average annual rate of +13.2% from 2012 to 2022. At the same time, Nigeria (+32.3%) and Togo (+17.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +32.3% from 2012-2022. From 2012 to 2022, the share of Nigeria increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest polystyrene cellular plates, sheets and films supplier in ECOWAS, comprising 83% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 9.7% share of total exports.

In Ghana, exports of cellular plates, sheets and films of polyymers of styrene increased at an average annual rate of +10.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+22.8% per year) and Togo (+10.5% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -34.3% against the previous year. Over the period under review, the export price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 27%. As a result, the export price attained the peak level of $X per ton, and then dropped dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports in ECOWAS

In 2022, overseas purchases of cellular plates, sheets and films of polyymers of styrene decreased by -5.3% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 126% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene surged to $X in 2022. Overall, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 80%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Nigeria prevails in styrene structure, amounting to X tons, which was approx. 69% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons), Ghana (X tons) and Burkina Faso (X tons), together creating a 19% share of total imports. The following importers - Benin (X tons) and Guinea (X tons) - together made up 6.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to polystyrene cellular plates, sheets and films imports into Nigeria stood at +13.6%. At the same time, Senegal (+42.4%), Benin (+36.2%), Guinea (+29.3%), Burkina Faso (+16.8%), Ghana (+8.8%) and Cote d'Ivoire (+6.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +42.4% from 2012-2022. Nigeria (+20 p.p.), Senegal (+4.4 p.p.), Benin (+3.4 p.p.), Burkina Faso (+2.1 p.p.) and Guinea (+2 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by -1.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cellular plates, sheets and films of polyymers of styrene in ECOWAS, comprising 61% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8.8% share of total imports. It was followed by Benin, with a 6.3% share.

In Nigeria, imports of cellular plates, sheets and films of polyymers of styrene increased at an average annual rate of +12.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+5.3% per year) and Benin (+34.7% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by 30% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform