ECOWAS: Market for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene 2024

Market Size for Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene in ECOWAS

In 2021, after two years of growth, there was significant decline in the ECOWAS ethylene polymer rigid pipes market, when its value decreased by -5.3% to $X. The market value increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X, and then fell in the following year.

Production of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene in ECOWAS

In value terms, ethylene polymer rigid pipes production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 19% against the previous year. As a result, production reached the peak level of $X, and then dropped in the following year.

Exports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Exports in ECOWAS

In 2021, after three years of growth, there was significant decline in overseas shipments of rigid tubes, pipes and hoses of polymers of ethylene, when their volume decreased by -26.6% to X tons. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 77%. The volume of export peaked at X tons in 2020, and then fell rapidly in the following year.

In value terms, ethylene polymer rigid pipes exports declined significantly to $X in 2021. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 65%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Cote d'Ivoire (X tons) was the key exporter of rigid tubes, pipes and hoses of polymers of ethylene, generating 63% of total exports. It was distantly followed by Ghana (X tons) and Togo (X tons), together creating a 34% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the rigid tubes, pipes and hoses of polymers of ethylene exports, with a CAGR of +22.4% from 2012 to 2021. At the same time, Togo (+16.0%) displayed positive paces of growth. By contrast, Ghana (-1.5%) and Senegal (-14.2%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+44 p.p.) and Togo (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-10.3 p.p.) and Ghana (-33.4 p.p.) displayed negative dynamics.

In value terms, the largest ethylene polymer rigid pipes supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Togo ($X), with a combined 98% share of total exports.

Togo, with a CAGR of +24.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, surging by 15% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 24% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+6.9%), while the other leaders experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes And Hoses Of Polymers Of Ethylene

Imports in ECOWAS

In 2021, approx. X tons of rigid tubes, pipes and hoses of polymers of ethylene were imported in ECOWAS; surging by 18% against the year before. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +104.1% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 88% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, ethylene polymer rigid pipes imports skyrocketed to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +124.0% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 104% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Nigeria (X tons) and Burkina Faso (X tons) were the major importers of rigid tubes, pipes and hoses of polymers of ethylene in 2021, reaching approx. 24% and 20% of total imports, respectively. Senegal (X tons) held the next position in the ranking, followed by Benin (X tons), Cote d'Ivoire (X tons), Niger (X tons), Togo (X tons) and Guinea (X tons). All these countries together took near 41% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +23.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2021, with a combined 52% share of total imports. Cote d'Ivoire, Benin, Togo, Guinea and Niger lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +22.6%, recorded the highest growth rate of 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 2021, the import price in ECOWAS amounted to $X per ton, surging by 12% against the previous year. Overall, the import price, however, continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2013 an increase of 18%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Niger ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform