ECOWAS: Market for Non-Cellular Polyvinyl Chloride Films, Sheets, Foil and Strip 2024

Market Size for Non-Cellular Polyvinyl Chloride Films, Sheets, Foil and Strip in ECOWAS

The ECOWAS non-cellular polyvinyl chloride film market amounted to $X in 2022, surging by 10% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

Production of Non-Cellular Polyvinyl Chloride Films, Sheets, Foil and Strip in ECOWAS

In value terms, non-cellular polyvinyl chloride film production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a mild decrease. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Non-Cellular Polyvinyl Chloride Films, Sheets, Foil and Strip

Exports in ECOWAS

In 2022, shipments abroad of non-cellular polyvinyl chloride films, sheets, foil and strip increased by 21% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, saw a precipitous decline. The growth pace was the most rapid in 2015 with an increase of 153%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-cellular polyvinyl chloride film exports dropped remarkably to $X in 2022. Overall, exports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2017 when exports increased by 49% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the main exporting country with an export of around X tons, which finished at 61% of total exports. Senegal (X tons) ranks second in terms of the total exports with a 23% share, followed by Nigeria (12%). Cabo Verde (X tons) held a relatively small share of total exports.

Exports from Ghana increased at an average annual rate of +12.1% from 2012 to 2022. At the same time, Cabo Verde (+31.3%) and Senegal (+12.8%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +31.3% from 2012-2022. By contrast, Nigeria (-6.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Senegal, Nigeria and Cabo Verde increased by +59, +23, +9.3 and +2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, with a combined 90% share of total exports. Cabo Verde lagged somewhat behind, accounting for a further 6.3%.

Cabo Verde, with a CAGR of +41.0%, saw 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -46.4% against the previous year. In general, the export price, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2014 an increase of 145% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+7.4%), while the other leaders experienced a decline in the export price figures.

Imports of Non-Cellular Polyvinyl Chloride Films, Sheets, Foil and Strip

Imports in ECOWAS

Non-cellular polyvinyl chloride film imports surged to X tons in 2022, jumping by 32% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 41% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-cellular polyvinyl chloride film imports skyrocketed to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +127.3% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by 43% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Nigeria was the largest importer of non-cellular polyvinyl chloride films, sheets, foil and strip in ECOWAS, with the volume of imports recording X tons, which was approx. 63% of total imports in 2022. Ghana (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (8.3%) and Senegal (6.4%). The following importers - Guinea (X tons) and Burkina Faso (X tons) - each amounted to a 3.6% share of total imports.

Imports into Nigeria decreased at an average annual rate of -2.9% from 2012 to 2022. At the same time, Burkina Faso (+16.1%), Senegal (+12.9%), Cote d'Ivoire (+9.6%), Guinea (+6.7%) and Ghana (+6.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +16.1% from 2012-2022. Ghana (+7.3 p.p.), Cote d'Ivoire (+5.1 p.p.) and Senegal (+4.6 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -19.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported non-cellular polyvinyl chloride films, sheets, foil and strip in ECOWAS, comprising 55% of total imports. The second position in the ranking was held by Ghana ($X), with a 20% share of total imports. It was followed by Cote d'Ivoire, with a 10% share.

In Nigeria, non-cellular polyvinyl chloride film imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+10.6% per year) and Cote d'Ivoire (+11.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by 7.7% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-cellular polyvinyl chloride film import price increased by +40.4% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 32%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, 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 Burkina Faso ($X per ton), while Nigeria ($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 (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform