ECOWAS: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in ECOWAS

In 2021, the ECOWAS polystyrene in primary forms market was finally on the rise to reach $X after two years of decline. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.1% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in ECOWAS

In value terms, polystyrene in primary forms production amounted to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.8% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 59%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in ECOWAS

Polystyrene in primary forms exports soared to X tons in 2021, jumping by 48% against the year before. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 109%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, polystyrene in primary forms exports surged to $X in 2021. Overall, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 73% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons) was the major exporter of polystyrene in primary forms (excluding expansible polystyrene) in ECOWAS, creating 92% of total export. Ghana (X tons), Togo (X tons) and Mali (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +14.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2021, with a combined 83% share of total exports.

Nigeria, with a CAGR of +15.7%, saw the highest rates of growth with regard to 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 2021, the export price in ECOWAS amounted to $X per ton, waning by -8% against the previous year. Overall, the export price recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of 47% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+13.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in ECOWAS

In 2021, overseas purchases of polystyrene in primary forms (excluding expansible polystyrene) decreased by -30.3% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 51%. The volume of import peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, polystyrene in primary forms imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 47%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which reached 77% of total imports. It was distantly followed by Ghana (X tons), comprising a 17% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polystyrene in primary forms imports into Nigeria stood at +8.7%. At the same time, Ghana (+11.6%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +11.6% from 2012-2021. By contrast, Cote d'Ivoire (-4.3%) illustrated a downward trend over the same period. Nigeria (+8.1 p.p.) and Ghana (+5 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by -4.8% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported polystyrene in primary forms (excluding expansible polystyrene) in ECOWAS, comprising 85% of total imports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +12.1%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+7.6% per year) and Cote d'Ivoire (-6.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 72% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Nigeria ($X per ton), while Ghana ($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 (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform