ECOWAS: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in ECOWAS

The ECOWAS ethylene polymer bag market contracted modestly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene Polymer Bag Production in ECOWAS

In value terms, ethylene polymer bag production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Ethylene Polymer Bag Exports

Exports in ECOWAS

After two years of decline, shipments abroad of sacks and bags of polymers of ethylene increased by 51% to X tons in 2022. Over the period under review, exports, however, showed a slight descent. The pace of growth was the most pronounced in 2014 when exports increased by 67%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene polymer bag exports skyrocketed to $X in 2022. In general, exports, however, recorded a pronounced decline. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Togo dominates exports structure, amounting to X tons, which was near 87% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), achieving a 9.7% share of total exports. Ghana (X tons) took a relatively small share of total exports.

Togo was also the fastest-growing in terms of the sacks and bags of polymers of ethylene exports, with a CAGR of +6.8% from 2012 to 2022. Ghana (-13.0%) and Cote d'Ivoire (-15.9%) illustrated a downward trend over the same period. Togo (+48 p.p.) significantly strengthened its position in terms of the total exports, while Ghana and Cote d'Ivoire saw its share reduced by -4.3% and -37.1% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest ethylene polymer bag supplier in ECOWAS, comprising 86% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo totaled +6.5%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-15.5% per year) and Ghana (-22.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -7.4% against the previous year. In general, the export price continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2013 an increase of 50% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.4%), while the other leaders experienced a decline in the export price figures.

Ethylene Polymer Bag Imports

Imports in ECOWAS

Ethylene polymer bag imports contracted to X tons in 2022, shrinking by -8.7% on the year before. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, ethylene polymer bag imports shrank to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -39.8% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 42%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Mali (X tons), Ghana (X tons), Burkina Faso (X tons) and Senegal (X tons) represented roughly 74% of total imports in 2022. It was distantly followed by Nigeria (X tons), constituting a 7.4% share of total imports. The following importers - Cote d'Ivoire (X tons), Niger (X tons) and Sierra Leone (X tons) - together made up 8.8% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +14.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethylene polymer bag importing markets in ECOWAS were Mali ($X), Ghana ($X) and Senegal ($X), together comprising 67% of total imports. Nigeria, Cote d'Ivoire, Niger, Burkina Faso and Sierra Leone lagged somewhat behind, together accounting for a further 23%.

Nigeria, with a CAGR of +14.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, saw a mild descent. The pace of growth was the most pronounced in 2021 an increase of 8.4% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($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 (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform