ECOWAS: Paper And Paperboard Market 2024

Paper And Paperboard Market Size in ECOWAS

In 2022, the ECOWAS paper and paperboard market increased by 3.6% to $X, rising for the sixth year in a row after two years of decline. Overall, consumption posted resilient growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Paper And Paperboard Production in ECOWAS

In value terms, paper and paperboard production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 98%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Paper And Paperboard Exports

Exports in ECOWAS

Paper and paperboard exports surged to X tons in 2022, growing by 279% compared with 2021. In general, exports continue to indicate a significant expansion. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, paper and paperboard exports skyrocketed to $X in 2022. Overall, exports continue to indicate a strong expansion. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Ghana (X tons), constituting a 6.5% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the paper and paperboard (creped, crinkled, embossed or perforated) exports, with a CAGR of +29.8% from 2012 to 2022. At the same time, Ghana (+10.7%) displayed positive paces of growth. Cote d'Ivoire (+37 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -12.7% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest paper and paperboard supplier in ECOWAS, comprising 95% of total exports. The second position in the ranking was taken by Ghana ($X), with a 4.1% share of total exports.

In Cote d'Ivoire, paper and paperboard exports increased at an average annual rate of +16.6% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by -48.2% against the previous year. Over the period under review, the export price recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 when the export price increased by 21%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-10.1%).

Paper And Paperboard Imports

Imports in ECOWAS

In 2022, the amount of paper and paperboard (creped, crinkled, embossed or perforated) imported in ECOWAS surged to X tons, jumping by 75% compared with 2021 figures. In general, imports saw significant growth. The growth pace was the most rapid in 2013 when imports increased by 330% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, paper and paperboard imports skyrocketed to $X in 2022. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2013 when imports increased by 228%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Nigeria represented the key importing country with an import of around X tons, which recorded 66% of total imports. It was distantly followed by Togo (X tons), committing a 25% share of total imports. Senegal (X tons), Gambia (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +29.7% from 2012 to 2022. At the same time, Togo (+66.5%), Gambia (+26.5%), Senegal (+23.3%) and Cote d'Ivoire (+7.5%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +66.5% from 2012-2022. From 2012 to 2022, the share of Nigeria and Togo increased by +24 and +23 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported paper and paperboard (creped, crinkled, embossed or perforated) in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Togo ($X), with a 10% share of total imports. It was followed by Cote d'Ivoire, with a 6.2% share.

In Nigeria, paper and paperboard imports increased at an average annual rate of +25.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Togo (+47.3% per year) and Cote d'Ivoire (+18.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by 9.4% against the previous year. Overall, the import price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2015 an increase of 65% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+10.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform