ECOWAS: Plastic Packaging Market 2024

Plastic Packaging Market Size in ECOWAS

The ECOWAS plastic packaging market amounted to $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Plastic Packaging Production in ECOWAS

In value terms, plastic packaging production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Plastic Packaging Exports

Exports in ECOWAS

In 2022, after five years of decline, there was significant growth in shipments abroad of plastic packaging, when their volume increased by X% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic packaging exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo was the major exporting country with an export of about X tons, which amounted to X% of total exports. Cote d'Ivoire (X tons) held the second position in the ranking, distantly followed by Senegal (X tons). All these countries together took near X% share of total exports. The following exporters - Ghana (X tons), Benin (X tons) and Nigeria (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic packaging exports from Togo stood at X%. At the same time, Benin (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.), Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Nigeria, Ghana and Benin lagged somewhat behind, together comprising a further X%.

Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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, falling by X% against the previous year. Over the period under review, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Senegal ($X per ton), while Benin ($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 (X%), while the other leaders experienced a decline in the export price figures.

Plastic Packaging Imports

Imports in ECOWAS

In 2022, approx. X tons of plastic packaging were imported in ECOWAS; which is down by X% compared with 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic packaging imports shrank to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of plastic packaging imports in 2022 were Mali (X tons), Ghana (X tons) and Burkina Faso (X tons), together finishing at X% of total import. Senegal (X tons) ranks next in terms of the total imports with an X% share, followed by Nigeria (X%) and Guinea (X%). Cote d'Ivoire (X tons), Benin (X tons), Togo (X tons), Niger (X tons), Liberia (X tons), Sierra Leone (X tons) and Gambia (X tons) took a little share of total imports.

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

In value terms, the largest plastic packaging importing markets in ECOWAS were Ghana ($X), Mali ($X) and Senegal ($X), together accounting for X% of total imports. Nigeria, Guinea, Burkina Faso, Cote d'Ivoire, Benin, Niger, Liberia, Sierra Leone, Togo and Gambia lagged somewhat behind, together comprising a further X%.

Sierra Leone, with a CAGR of X%, saw 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

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price saw a mild setback. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs 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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform