ECOWAS: Lamp Plastic Parts Market 2024

Lamp Plastic Parts Market Size in ECOWAS

After two years of growth, the ECOWAS lamp plastic parts market decreased by -1% to $X in 2021. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +103.8% against 2018 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank slightly in the following year.

Lamp Plastic Parts Production in ECOWAS

In value terms, lamp plastic parts production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2019 when the production volume increased by 113%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Lamp Plastic Parts Exports

Exports in ECOWAS

Lamp plastic parts exports soared to X tons in 2021, picking up by 2,461% on 2020 figures. Over the period under review, exports recorded temperate growth. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamp plastic parts exports soared to $X in 2021. Overall, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was approx. 82% of total exports in 2021. It was distantly followed by Sierra Leone (X kg) and Togo (X kg), together creating a 14% share of total exports. The following exporters - Cote d'Ivoire (X kg) and Mali (X kg) - each finished at a 3.5% share of total exports.

Exports from Senegal increased at an average annual rate of +47.7% from 2012 to 2021. At the same time, Sierra Leone (+118.7%), Mali (+41.7%) and Togo (+6.6%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +118.7% from 2012-2021. By contrast, Cote d'Ivoire (-22.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Sierra Leone, Togo, Cote d'Ivoire and Mali increased by +82, +7.2, +6.7, +1.9 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest lamp plastic parts supplier in ECOWAS, comprising 81% of total exports. The second position in the ranking was taken by Togo ($X), with an 8.5% share of total exports. It was followed by Sierra Leone, with a 7% share.

In Senegal, lamp plastic parts exports increased at an average annual rate of +96.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (+21.6% per year) and Sierra Leone (+109.3% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, rising by 82% against the previous year. Overall, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 an increase of 204%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+33.0%), while the other leaders experienced more modest paces of growth.

Lamp Plastic Parts Imports

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in purchases abroad of plastic parts for lamps and lighting fittings, when their volume decreased by -16.7% to X tons. In general, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 170%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lamp plastic parts imports surged to $X in 2021. Overall, imports showed a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 164%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Cote d'Ivoire (X tons), Ghana (X tons) and Togo (X tons) represented roughly 61% of total imports in 2021. Senegal (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (11%) and Gambia (9.6%). Guinea (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Gambia (with a CAGR of +32.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of imports in 2021, together accounting for 67% of total imports.

Cote d'Ivoire, with a CAGR of +18.5%, recorded the highest growth rate of the value of imports, in terms of 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, increasing by 53% against the previous year. Import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lamp plastic parts import price increased by +74.8% against 2019 indices. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Senegal ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform