ECOWAS: Plastic Supports Market 2024

Plastic Supports Market Size in ECOWAS

The ECOWAS plastic supports market contracted modestly to $X in 2022, dropping by -2% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.3% against 2020 indices. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Plastic Supports Production in ECOWAS

In value terms, plastic supports production declined to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 43% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Plastic Supports Exports

Exports in ECOWAS

In 2022, overseas shipments of spools, cops, bobbins and similar supports of plastics were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 57%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic supports exports dropped slightly to $X in 2022. Overall, exports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 52% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Togo represented the main exporter of spools, cops, bobbins and similar supports of plastics in ECOWAS, with the volume of exports accounting for X tons, which was near 69% of total exports in 2022. It was distantly followed by Burkina Faso (X tons) and Senegal (X tons), together generating a 27% share of total exports. Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic supports exports from Togo stood at -8.1%. At the same time, Burkina Faso (+15.7%) and Senegal (+12.9%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +15.7% from 2012-2022. By contrast, Cote d'Ivoire (-19.3%) illustrated a downward trend over the same period. While the share of Burkina Faso (+15 p.p.) and Senegal (+8.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-7.8 p.p.) and Togo (-13.2 p.p.) displayed negative dynamics.

In value terms, the largest plastic supports supplying countries in ECOWAS were Togo ($X), Burkina Faso ($X) and Senegal ($X), with a combined 94% share of total exports.

Burkina Faso, with a CAGR of +21.0%, 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

The export price in ECOWAS stood at $X per ton in 2022, dropping by -20% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 121%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then shrank notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+4.6%), while the other leaders experienced a decline in the export price figures.

Plastic Supports Imports

Imports in ECOWAS

In 2022, the amount of spools, cops, bobbins and similar supports of plastics imported in ECOWAS declined modestly to X tons, with a decrease of -4.5% against 2021 figures. Over the period under review, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 141%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic supports imports declined notably to $X in 2022. Overall, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of 186%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana (X tons) and Nigeria (X tons) prevails in imports structure, together creating 79% of total imports. It was distantly followed by Senegal (X tons), generating a 9.7% share of total imports. Cote d'Ivoire (X tons) and Burkina Faso (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +51.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 82% share of total imports.

Among the main importing countries, Ghana, with a CAGR of +49.2%, 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

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of -12.5% against the previous year. In general, the import price showed a perceptible descent. The growth pace was the most rapid in 2020 when the import price increased by 178%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+5.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform