ECOWAS: Market for Plastics Pipes And Pipe Fittings 2024

Market Size for Plastics Pipes And Pipe Fittings in ECOWAS

The ECOWAS market for plastics pipes and pipe fittings shrank to $X in 2022, reducing by -5.5% against the previous year. In general, consumption, however, posted a resilient expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Plastics Pipes And Pipe Fittings in ECOWAS

In value terms, plastics pipe and pipe fitting production contracted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Plastics Pipes And Pipe Fittings

Exports in ECOWAS

In 2022, approx. X tons of plastics pipes and pipe fittings were exported in ECOWAS; jumping by 34% on the previous year. In general, exports showed a resilient increase. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, plastics pipe and pipe fitting exports surged to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.4% against 2019 indices. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) represented the key exporter of plastics pipes and pipe fittings, generating 64% of total exports. Ghana (X tons) held the second position in the ranking, distantly followed by Togo (X tons). All these countries together held approx. 30% share of total exports. Senegal (X tons) held a minor share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of +8.5% from 2012 to 2022. At the same time, Togo (+15.1%) and Ghana (+3.9%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +15.1% from 2012-2022. Senegal experienced a relatively flat trend pattern. Cote d'Ivoire (+7.2 p.p.) and Togo (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Ghana saw its share reduced by -3% and -7.6% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Togo ($X) were the countries with the highest levels of exports in 2022, together accounting for 94% of total exports.

In terms of the main exporting countries, Togo, with a CAGR of +11.8%, recorded the highest growth rate of the value of exports, 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 -7.5% against the previous year. Over the period under review, the export price continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2018 when the export price increased by 12% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Plastics Pipes And Pipe Fittings

Imports in ECOWAS

In 2022, purchases abroad of plastics pipes and pipe fittings increased by 3.3% to X tons, rising for the sixth consecutive year after two years of decline. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.5% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, plastics pipe and pipe fitting imports contracted slightly to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped modestly in the following year.

Imports by Country

Nigeria (X tons) and Burkina Faso (X tons) represented roughly 42% of total imports in 2022. Ghana (X tons) ranks next in terms of the total imports with a 9.2% share, followed by Senegal (9%), Benin (7.7%), Cote d'Ivoire (6.7%), Mali (5.7%) and Niger (5.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 43% share of total imports. Senegal, Cote d'Ivoire, Benin, Mali and Niger lagged somewhat behind, together accounting for a further 41%.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +19.8%, recorded 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

In 2022, the import price in ECOWAS amounted to $X per ton, declining by -5.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 15%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform