ECOWAS: Market for Plastic Shutters And Blinds 2024

Market Size for Plastic Shutters And Blinds in ECOWAS

The ECOWAS plastic shutters and blinds market fell slightly to $X in 2022, shrinking by -1.9% against the previous year. Over the period under review, consumption saw prominent growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Plastic Shutters And Blinds in ECOWAS

In value terms, plastic shutters and blinds production contracted to $X in 2022 estimated in export price. In general, production, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of 86% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Plastic Shutters And Blinds

Exports in ECOWAS

After three years of decline, shipments abroad of plastic shutters and blinds increased by 54% to X units in 2022. Overall, exports, however, showed a precipitous slump. The most prominent rate of growth was recorded in 2016 with an increase of 376% against the previous year. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, plastic shutters and blinds exports soared to $X in 2022. In general, exports, however, continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2018 with an increase of 259% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X units) and Nigeria (X units) represented roughly 70% of total exports in 2022. Sierra Leone (X units) held the next position in the ranking, distantly followed by Cabo Verde (X units) and Togo (X units). All these countries together held near 30% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of +24.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest plastic shutters and blinds supplying countries in ECOWAS were Ghana ($X), Sierra Leone ($X) and Nigeria ($X), with a combined 93% share of total exports. Cabo Verde and Togo lagged somewhat behind, together accounting for a further 7.3%.

Cabo Verde, with a CAGR of +29.2%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, growing by 69% against the previous year. In general, the export price recorded a pronounced increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+12.3%), while the other leaders experienced more modest paces of growth.

Imports of Plastic Shutters And Blinds

Imports in ECOWAS

In 2022, overseas purchases of plastic shutters and blinds increased by 23% to X units, rising for the sixth year in a row after two years of decline. Overall, imports posted a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 109% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, plastic shutters and blinds imports expanded significantly to $X in 2022. Over the period under review, imports showed buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 131%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Nigeria (X units) represented the main importer of plastic shutters and blinds, committing 56% of total imports. Ghana (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (12%) and Cote d'Ivoire (6.1%). The following importers - Benin (X units) and Guinea (X units) - each reached a 3.6% share of total imports.

Nigeria was also the fastest-growing in terms of the plastic shutters and blinds imports, with a CAGR of +36.6% from 2012 to 2022. At the same time, Ghana (+31.5%), Cote d'Ivoire (+21.5%), Senegal (+14.6%) and Guinea (+7.2%) displayed positive paces of growth. By contrast, Benin (-12.7%) illustrated a downward trend over the same period. Nigeria (+43 p.p.) and Ghana (+12 p.p.) significantly strengthened its position in terms of the total imports, while Guinea, Senegal and Benin saw its share reduced by -2.8%, -4.3% and -37.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 78% of total imports.

Among the main importing countries, Ghana, with a CAGR of +36.7%, saw 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

The import price in ECOWAS stood at $X per unit in 2022, declining by -13.4% against the previous year. In general, the import price saw a noticeable slump. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform