ECOWAS: Plastic Container Market 2024

Plastic Container Market Size in ECOWAS

In 2021, after three years of growth, there was decline in the ECOWAS plastic container market, when its value decreased by -1.1% to $X. Overall, consumption, however, posted a prominent increase. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped slightly in the following year.

Plastic Container Production in ECOWAS

In value terms, plastic container production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 64%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Plastic Container Exports

Exports in ECOWAS

In 2021, shipments abroad of plastic containers was finally on the rise to reach X tons after three years of decline. Overall, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 311% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic container exports expanded notably to $X in 2021. In general, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 208% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) and Senegal (X tons) dominates exports structure, together making up 87% of total exports. It was distantly followed by Ghana (X tons), making up a 5.6% share of total exports. Togo (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Senegal (with a CAGR of +22.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X) were the countries with the highest levels of exports in 2021, with a combined 92% share of total exports.

In terms of the main exporting countries, Senegal, with a CAGR of +5.1%, saw 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

The export price in ECOWAS stood at $X per ton in 2021, declining by -16.9% against the previous year. Overall, the export price, however, recorded a mild increase. The most prominent rate of growth was recorded in 2016 an increase of 74% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+13.5%), while the other leaders experienced mixed trends in the export price figures.

Plastic Container Imports

Imports in ECOWAS

In 2021, purchases abroad of plastic containers increased by 9.1% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2014 when imports increased by 73%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic container imports reached $X in 2021. Overall, imports saw a resilient increase. The growth pace was the most rapid in 2014 when imports increased by 67%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Senegal was the key importing country with an import of about X tons, which resulted at 32% of total imports. It was distantly followed by Guinea (X tons), Cote d'Ivoire (X tons), Nigeria (X tons), Liberia (X tons), Ghana (X tons), Sierra Leone (X tons) and Burkina Faso (X tons), together constituting a 55% share of total imports.

Imports into Senegal increased at an average annual rate of +19.4% from 2012 to 2021. At the same time, Liberia (+34.2%), Guinea (+21.0%), Cote d'Ivoire (+15.4%), Sierra Leone (+12.5%), Nigeria (+6.8%), Ghana (+4.9%) and Burkina Faso (+2.2%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +34.2% from 2012-2021. From 2012 to 2021, the share of Senegal, Liberia, Guinea and Cote d'Ivoire increased by +14, +7, +5.2 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 53% of total imports. Guinea, Ghana, Liberia, Sierra Leone and Burkina Faso lagged somewhat behind, together comprising a further 30%.

Liberia, with a CAGR of +27.3%, recorded the highest rates of growth with regard to 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

The import price in ECOWAS stood at $X per ton in 2021, reducing by -7.9% against the previous year. Overall, the import price showed a perceptible downturn. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform