ECOWAS: Plastic Support Market 2024

Plastic Support Market Size in ECOWAS

The ECOWAS plastic support market stood at $X in 2022, growing by 4.1% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Plastic Support Production in ECOWAS

In value terms, plastic support production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Plastic Support Exports

Exports in ECOWAS

In 2022, the amount of spools, cops and similar supports of plastics exported in ECOWAS contracted to X tons, falling by -11.4% against 2021. Over the period under review, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 86% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic support exports reduced to $X in 2022. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 68%. The level of export peaked at $X in 2018; however, from 2019 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 spools, cops and similar supports of plastics, mixing up 41% of total exports. It was distantly followed by Senegal (X tons), Ghana (X tons) and Mali (X tons), together achieving a 55% share of total exports. Togo (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Mali (with a CAGR of +50.8%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest plastic support supplier in ECOWAS, comprising 47% of total exports. The second position in the ranking was held by Senegal ($X), with a 22% share of total exports. It was followed by Ghana, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled +6.6%. In the other countries, the average annual rates were as follows: Senegal (+10.6% per year) and Ghana (+17.2% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by 10% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+1.5%), while the other leaders experienced a decline in the export price figures.

Plastic Support Imports

Imports in ECOWAS

In 2022, after five years of growth, there was decline in purchases abroad of spools, cops and similar supports of plastics, when their volume decreased by -4.8% to X tons. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. The volume of import peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, plastic support imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 18% against the previous year. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Nigeria (X tons), Ghana (X tons) and Senegal (X tons) represented roughly 54% of total imports in 2022. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Mali (X tons), Burkina Faso (X tons) and Guinea (X tons). All these countries together held approx. 31% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +15.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined 58% share of total imports. Cote d'Ivoire, Mali, Guinea and Burkina Faso lagged somewhat behind, together comprising a further 30%.

Guinea, with a CAGR of +12.3%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by -3.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 25%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform