ECOWAS: Composite Paperboard Market 2025

Composite Paperboard Market Size in ECOWAS

In 2021, after two years of decline, there was significant growth in the ECOWAS composite paperboard market, when its value increased by 9.8% to $X. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -13.2% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Composite Paperboard Production in ECOWAS

In value terms, composite paperboard production rose notably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Composite Paperboard Exports

Exports in ECOWAS

After two years of decline, shipments abroad of composite paper and paperboard increased by 683% to X tons in 2021. Overall, exports, however, recorded a dramatic decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, composite paperboard exports soared to $X in 2021. In general, exports, however, saw a sharp slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) and Cote d'Ivoire (X tons) prevails in exports structure, together generating 93% of total exports. The following exporters - Ghana (X kg) and Togo (X kg) - together made up 6.7% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cote d'Ivoire (with a CAGR of -6.1%), while the other leaders experienced a decline in the exports figures.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Togo ($X) were the countries with the highest levels of exports in 2021, with a combined 98% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of -10.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, leveling off at the previous year. Over the period under review, the export price saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by 48%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-1.6%), while the other leaders experienced a decline in the export price figures.

Composite Paperboard Imports

Imports in ECOWAS

Composite paperboard imports surged to X tons in 2021, rising by 26% on the previous year. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of 93% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, composite paperboard imports surged to $X in 2021. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 109% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Nigeria represented the main importer of composite paper and paperboard in ECOWAS, with the volume of imports amounting to X tons, which was near 48% of total imports in 2021. It was distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons), together mixing up a 40% share of total imports. Benin (X tons) and Niger (X tons) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of +23.7% from 2012 to 2021. At the same time, Cote d'Ivoire (+37.3%), Ghana (+10.8%), Niger (+7.8%) and Benin (+4.8%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +37.3% from 2012-2021. While the share of Nigeria (+33 p.p.), Cote d'Ivoire (+15 p.p.) and Ghana (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Benin (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported composite paper and paperboard in ECOWAS, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to +11.7%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+9.6% per year) and Cote d'Ivoire (+38.1% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 15% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 18%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Niger ($X per ton) and Nigeria ($X per ton), while Benin ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform