ECOWAS: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in ECOWAS

After two years of growth, the ECOWAS plastic household articles market decreased by -3.9% to $X in 2022. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2021, and then dropped modestly in the following year.

Plastic Household Articles Production in ECOWAS

In value terms, plastic household articles production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 60% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Plastic Household Articles Exports

Exports in ECOWAS

In 2022, after four years of decline, there was significant growth in overseas shipments of household articles and toilet articles of plastics, when their volume increased by 42% to X tons. Over the period under review, exports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 when exports increased by 158%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic household articles exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 142%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Senegal (X tons), Cote d'Ivoire (X tons) and Togo (X tons), together resulting at 92% of total export. It was distantly followed by Ghana (X tons), creating a 5.8% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Senegal (with a CAGR of +6.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2022, together comprising 90% of total exports.

Senegal, with a CAGR of +2.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, growing by 5.4% against the previous year. In general, the export price, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Ghana ($X per ton) and Senegal ($X per ton), while Togo ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.6%), while the other leaders experienced a decline in the export price figures.

Plastic Household Articles Imports

Imports in ECOWAS

In 2022, approx. X tons of household articles and toilet articles of plastics were imported in ECOWAS; picking up by 5.3% compared with 2021 figures. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 64% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, plastic household articles imports fell to $X in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 57%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

The countries with the highest levels of plastic household articles imports in 2022 were Ghana (X tons), Nigeria (X tons) and Burkina Faso (X tons), together recording 56% of total import. It was distantly followed by Senegal (X tons), Gambia (X tons), Mali (X tons), Liberia (X tons) and Sierra Leone (X tons), together creating a 33% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +24.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported household articles and toilet articles of plastics in ECOWAS, comprising 35% of total imports. The second position in the ranking was held by Nigeria ($X), with a 12% share of total imports. It was followed by Senegal, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at +14.7%. In the other countries, the average annual rates were as follows: Nigeria (+19.9% per year) and Senegal (+13.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of -11.1% against the previous year. Overall, the import price recorded a slight reduction. The pace of growth was the most pronounced in 2021 when the import price increased by 23%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform