Report Update Nov 1, 2024

ECOWAS - Ethylene - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Ethylene Market 2024

Ethylene Market Size in ECOWAS

After five years of growth, the ECOWAS ethylene market decreased by -0.6% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 6.5%. The level of consumption peaked at $X in 2020, and then reduced slightly in the following year.

Ethylene Production in ECOWAS

In value terms, ethylene production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 8%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Ethylene Exports

Exports in ECOWAS

In 2021, overseas shipments of ethylene decreased by -18.6% to X tons, falling for the eighth consecutive year after two years of growth. Over the period under review, exports showed a dramatic shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 2% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, ethylene exports reduced to $X in 2021. In general, exports continue to indicate a abrupt downturn. The smallest decline of -10.3% was in 2015. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) represented roughly 100% of total exports in 2021.

Nigeria was also the fastest-growing in terms of the ethylene exports, with a CAGR of -24.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest ethylene supplier in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at -13.7%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, surging by 10% against the previous year. In general, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the export price increased by 89%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +13.8% per year.

Ethylene Imports

Imports in ECOWAS

In 2021, after six years of growth, there was significant decline in purchases abroad of ethylene, when their volume decreased by -77.5% to X tons. In general, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 201%. The volume of import peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, ethylene imports fell remarkably to $X in 2021. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 132% against the previous year. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was approx. 89% of total imports in 2021. It was distantly followed by Burkina Faso (X tons), generating an 8.6% share of total imports.

Nigeria was also the fastest-growing in terms of the ethylene imports, with a CAGR of +15.9% from 2012 to 2021. Burkina Faso (-2.7%) illustrated a downward trend over the same period. While the share of Nigeria (+39 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Burkina Faso (-14.7 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported ethylene in ECOWAS, comprising 91% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a 0.9% share of total imports.

In Nigeria, ethylene imports increased at an average annual rate of +23.8% over the period from 2012-2021.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, with an increase of 60% against the previous year. Over the period under review, the import price, however, showed a mild downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Nigeria ($X per ton), while Burkina Faso amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+6.8%).

Source: IndexBox Platform

This report provides an in-depth analysis of the ethylene market 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 20141130 - Ethylene

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023