ECOWAS: Plastic Box Market 2024

Plastic Box Market Size in ECOWAS

The ECOWAS plastic box market expanded slightly to $X in 2022, with an increase of 3.7% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Plastic Box Production in ECOWAS

In value terms, plastic box production expanded to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Plastic Box Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in overseas shipments of plastic boxes, cases, crates and similar packing articles, when their volume increased by 530% to X tons. Over the period under review, exports showed a perceptible expansion. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, plastic box exports skyrocketed to $X in 2022. In general, exports, however, recorded a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Benin was the largest exporter of plastic boxes, cases, crates and similar packing articles in ECOWAS, with the volume of exports reaching X tons, which was near 59% of total exports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 16% share, followed by Togo (12%) and Niger (8.4%). Nigeria (X tons) took a relatively small share of total exports.

Benin experienced a relatively flat trend pattern with regard to volume of exports of plastic boxes, cases, crates and similar packing articles. At the same time, Niger (+49.1%) and Cote d'Ivoire (+1.4%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +49.1% from 2012-2022. By contrast, Togo (-2.2%) and Nigeria (-26.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin and Niger increased by +59 and +8.2 percentage points, respectively.

In value terms, Benin ($X), Cote d'Ivoire ($X) and Niger ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 78% of total exports.

Among the main exporting countries, Niger, with a CAGR of +41.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -57.3% against the previous year. Overall, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 when the export price increased by 31%. 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 failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Niger ($X per ton), while Benin ($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 (-3.8%), while the other leaders experienced a decline in the export price figures.

Plastic Box Imports

Imports in ECOWAS

In 2022, the amount of plastic boxes, cases, crates and similar packing articles imported in ECOWAS fell slightly to X tons, which is down by -3.4% against 2021. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +68.4% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by 64%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped modestly in the following year.

In value terms, plastic box imports dropped to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +65.0% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 64%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Senegal (X tons), Ghana (X tons), Cote d'Ivoire (X tons), Benin (X tons) and Nigeria (X tons) was the main importer of plastic boxes, cases, crates and similar packing articles in ECOWAS, making up 76% of total import. It was distantly followed by Niger (X tons), achieving a 6.9% share of total imports. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +20.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 64% share of total imports. Cote d'Ivoire, Benin, Mali and Niger lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Niger, with a CAGR of +13.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 Nigeria ($X per ton), while Niger ($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 (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform