ECOWAS: Fluoropolymers Market 2024

Fluoropolymers Market Size in ECOWAS

The ECOWAS fluoropolymers market was estimated at $X in 2021, increasing by 3.6% against the previous year. In general, consumption showed a noticeable expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Fluoropolymers Production in ECOWAS

In value terms, fluoropolymers production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded temperate growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 63% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Fluoropolymers Exports

Exports in ECOWAS

In 2021, fluoropolymers exports in ECOWAS shrank notably to X tons, waning by -30% compared with 2020. In general, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 211%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fluoropolymers exports contracted to $X in 2021. Over the period under review, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2017 with an increase of 90% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Niger was the largest exporting country with an export of about X tons, which recorded 84% of total exports. It was distantly followed by Nigeria (X kg), comprising a 16% share of total exports.

Niger was also the fastest-growing in terms of the fluoropolymers exports, with a CAGR of +9.1% from 2012 to 2021. At the same time, Nigeria (+1.9%) displayed positive paces of growth. From 2012 to 2021, the share of Niger increased by +12 percentage points.

In value terms, Niger ($X) remains the largest fluoropolymers supplier in ECOWAS, comprising 93% of total exports. The second position in the ranking was held by Nigeria ($X), with a 7% share of total exports.

In Niger, fluoropolymers exports increased at an average annual rate of +17.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 37% against the previous year. In general, the export price saw a strong expansion. The pace of growth was the most pronounced in 2018 when the export price increased by 49% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

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 Niger ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+7.5%).

Fluoropolymers Imports

Imports in ECOWAS

In 2021, overseas purchases of fluoropolymers decreased by -11.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2019 when imports increased by 116%. The volume of import peaked at X tons in 2020, and then reduced in the following year.

In value terms, fluoropolymers imports declined modestly to $X in 2021. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Togo dominates imports structure, amounting to X tons, which was near 69% of total imports in 2021. Nigeria (X tons) held a 9% share (based on physical terms) of total imports, which put it in second place, followed by Niger (8.8%) and Ghana (8.2%). Cote d'Ivoire (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to fluoropolymers imports into Togo stood at +37.3%. At the same time, Nigeria (+62.8%), Ghana (+48.0%) and Cote d'Ivoire (+19.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +62.8% from 2012-2021. By contrast, Niger (-17.5%) illustrated a downward trend over the same period. Togo (+62 p.p.), Nigeria (+9 p.p.), Ghana (+7.8 p.p.) and Cote d'Ivoire (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Niger saw its share reduced by -80.3% from 2012 to 2021, respectively.

In value terms, the largest fluoropolymers importing markets in ECOWAS were Niger ($X), Ghana ($X) and Togo ($X), together accounting for 71% of total imports. Nigeria and Cote d'Ivoire lagged somewhat behind, together comprising a further 28%.

Nigeria, with a CAGR of +53.2%, recorded the highest growth rate of the value of imports, among 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

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 7.5% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluoropolymers import price decreased by -30.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 110% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+19.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform