ECOWAS: Ethylene-Vinyl Acetate Copolymers Market 2024

Ethylene-Vinyl Acetate Copolymers Market Size in ECOWAS

The ECOWAS ethylene-vinyl acetate copolymers market skyrocketed to $X in 2022, growing by 54% against the previous year. In general, consumption enjoyed a strong expansion. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Ethylene-Vinyl Acetate Copolymers Production in ECOWAS

In value terms, ethylene-vinyl acetate copolymers production dropped to $X in 2022 estimated in export price. In general, production saw a slight slump. The growth pace was the most rapid in 2014 with an increase of 59% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Ethylene-Vinyl Acetate Copolymers Exports

Exports in ECOWAS

In 2022, overseas shipments of ethylene-vinyl acetate copolymers in primary forms increased by 56% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2013 when exports increased by 374%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, ethylene-vinyl acetate copolymers exports skyrocketed to $X in 2022. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 465%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) were the major exporters of ethylene-vinyl acetate copolymers in primary forms in 2022, reaching approx. 53% and 36% of total exports, respectively. It was distantly followed by Nigeria (X tons), generating an 11% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of -4.6%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Cote d'Ivoire ($X) emerged as the largest ethylene-vinyl acetate copolymers supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was held by Nigeria ($X), with a 24% share of total exports.

In Cote d'Ivoire, ethylene-vinyl acetate copolymers exports shrank by an average annual rate of -11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (-9.6% per year) and Senegal (-17.3% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -3.9% against the previous year. Over the period under review, the export price saw a mild decrease. The pace of growth was the most pronounced in 2013 when the export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.1%), while the other leaders experienced a decline in the export price figures.

Ethylene-Vinyl Acetate Copolymers Imports

Imports in ECOWAS

Ethylene-vinyl acetate copolymers imports surged to X tons in 2022, increasing by 81% on the previous year. In general, imports recorded a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 436% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ethylene-vinyl acetate copolymers imports soared to $X in 2022. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 414% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. 82% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons) and Ghana (X tons), together constituting a 13% share of total imports. Senegal (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ethylene-vinyl acetate copolymers imports into Nigeria stood at +10.3%. At the same time, Ghana (+16.7%) and Senegal (+1.2%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +16.7% from 2012-2022. By contrast, Cote d'Ivoire (-2.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Ghana increased by +13 and +3 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported ethylene-vinyl acetate copolymers in primary forms in ECOWAS, comprising 78% of total imports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +11.2%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+31.0% per year) and Cote d'Ivoire (-0.4% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, jumping by 22% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethylene-vinyl acetate copolymers import price increased by +59.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 25%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform