ECOWAS: Market for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning 2025

Market Size for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in ECOWAS

After two years of growth, the ECOWAS market for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by -2.8% to $X in 2021. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by +0.6% against 2017 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined slightly in the following year.

Production of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in ECOWAS

In value terms, production of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning declined modestly to $X in 2021 estimated in export price. The total production indicated moderate growth 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, production increased by +1.7% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 69% against the previous year. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Exports in ECOWAS

In 2021, approx. X tons of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning were exported in ECOWAS; with a decrease of -10.7% on 2020. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when exports increased by 60% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2020, and then fell in the following year.

In value terms, exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning surged to $X in 2021. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 89% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Togo dominates spinning structure, resulting at X tons, which was approx. 87% of total exports in 2021. It was distantly followed by Nigeria (X tons), committing a 9.7% share of total exports. Cote d'Ivoire (X tons) took a minor share of total exports.

Togo was also the fastest-growing in terms of the polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning exports, with a CAGR of +13.1% from 2012 to 2021. Nigeria experienced a relatively flat trend pattern. Cote d'Ivoire (-17.1%) illustrated a downward trend over the same period. Togo (+20 p.p.) and Cote d'Ivoire (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -14.8% from 2012 to 2021, respectively.

In value terms, Nigeria ($X), Togo ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 99% of total exports.

Nigeria, with a CAGR of +28.8%, saw the highest rates of growth with regard to the value of exports, among 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

The export price in ECOWAS stood at $X per ton in 2021, with an increase of 70% against the previous year. Over the period under review, the export price showed prominent growth. As a result, the export price reached 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 Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+30.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Imports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in purchases abroad of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning, which increased by 34% to X tons in 2021. Over the period under review, imports, however, saw a slight setback. The most prominent rate of growth was recorded in 2016 when imports increased by 128% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning surged to $X in 2021. In general, imports, however, continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2013 when imports increased by 197%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning, namely Nigeria, Togo and Cote d'Ivoire, represented more than two-thirds of total import. Senegal (X tons) held a 9.9% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (8.5%).

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +5.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X), Togo ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 75% share of total imports. Ghana and Senegal lagged somewhat behind, together comprising a further 22%.

Ghana, with a CAGR of +1.0%, recorded 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, growing by 7% against the previous year. Overall, the import price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by 31% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($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 (+8.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform