ECOWAS: Plastic Household Ware Market 2024

Plastic Household Ware Market Size in ECOWAS

The ECOWAS plastic household ware market dropped modestly to $X in 2021, remaining stable against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Plastic Household Ware Production in ECOWAS

In value terms, plastic household ware production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a slight decline. The growth pace was the most rapid in 2016 with an increase of 28%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Plastic Household Ware Exports

Exports in ECOWAS

In 2021, shipments abroad of plastics household articles and toilet articles decreased by -49.8% to X tons, falling for the fourth consecutive year after three years of growth. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 149%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic household ware exports dropped rapidly to $X in 2021. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 135%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal was the main exporting country with an export of around X tons, which resulted at 59% of total exports. It was distantly followed by Togo (X tons), Cote d'Ivoire (X tons) and Ghana (X tons), together constituting a 36% share of total exports. The following exporters - Guinea (X tons) and Nigeria (X tons) - each resulted at a 3.5% share of total exports.

Senegal was also the fastest-growing in terms of the plastics household articles and toilet articles exports, with a CAGR of +8.4% from 2012 to 2021. Togo (-1.1%), Nigeria (-7.4%), Guinea (-9.4%), Cote d'Ivoire (-19.1%) and Ghana (-30.8%) illustrated a downward trend over the same period. Senegal (+51 p.p.) and Togo (+12 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Ghana saw its share reduced by -9.5% and -55.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest plastic household ware supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was held by Togo ($X), with a 13% share of total exports. It was followed by Ghana, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (-4.1% per year) and Ghana (-27.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, shrinking by -2.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 20%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per ton), while Togo ($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 (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Plastic Household Ware Imports

Imports in ECOWAS

In 2021, imports of plastics household articles and toilet articles in ECOWAS rose sharply to X tons, with an increase of 13% against the previous year. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2013 with an increase of 67% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, plastic household ware imports surged to $X in 2021. Overall, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 42%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Ghana represented the key importing country with an import of about X tons, which resulted at 36% of total imports. It was distantly followed by Senegal (X tons), Burkina Faso (X tons), Nigeria (X tons), Gambia (X tons), Liberia (X tons) and Cote d'Ivoire (X tons), together generating a 47% share of total imports.

Imports into Ghana increased at an average annual rate of +16.8% from 2012 to 2021. At the same time, Liberia (+23.3%), Gambia (+22.4%), Nigeria (+22.2%), Cote d'Ivoire (+17.3%), Senegal (+13.8%) and Burkina Faso (+10.8%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +23.3% from 2012-2021. From 2012 to 2021, the share of Ghana, Nigeria, Gambia, Liberia and Cote d'Ivoire increased by +9.3, +4.1, +3, +3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported plastics household articles and toilet articles in ECOWAS, comprising 45% of total imports. The second position in the ranking was held by Senegal ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with an 8% share.

From 2012 to 2021, the average annual growth rate of value in Ghana amounted to +18.8%. In the other countries, the average annual rates were as follows: Senegal (+18.9% per year) and Cote d'Ivoire (+20.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, growing by 12% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform