ECOWAS: Asphalted Paper Market 2025

Asphalted Paper Market Size in ECOWAS

In 2022, the ECOWAS asphalted paper market increased by 0.9% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption continues to indicate a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Asphalted Paper Production in ECOWAS

In value terms, asphalted paper production fell markedly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 582% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Asphalted Paper Exports

Exports in ECOWAS

In 2022, asphalted paper exports in ECOWAS fell to X tons, waning by -3.2% on the year before. Overall, exports, however, enjoyed a pronounced expansion. The growth pace was the most rapid in 2013 with an increase of 232%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, asphalted paper exports expanded sharply to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 219%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons) represented roughly 98% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Nigeria (with a CAGR of +28.3%), while the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Nigeria ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 75% share of total exports.

Among the main exporting countries, Nigeria, with a CAGR of +24.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the export price, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2014 when the export price increased by 130% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a 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 Burkina Faso ($X per ton), while Nigeria ($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 (-3.1%), while the other leaders experienced a decline in the export price figures.

Asphalted Paper Imports

Imports in ECOWAS

In 2022, purchases abroad of tarred, bituminised or asphalted paper and paperboard decreased by -2.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a abrupt decline. The growth pace was the most rapid in 2019 with an increase of 133%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, asphalted paper imports shrank modestly to $X in 2022. In general, imports showed a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of 147% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was approx. 74% of total imports in 2022. Mali (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took approx. 11% share of total imports. The following importers - Togo (X tons), Burkina Faso (X tons), Liberia (X tons) and Senegal (X tons) - together made up 12% of total imports.

Imports into Nigeria decreased at an average annual rate of -7.4% from 2012 to 2022. At the same time, Burkina Faso (+34.7%), Mali (+13.1%) and Liberia (+3.0%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +34.7% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. By contrast, Togo (-4.7%) and Senegal (-12.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mali, Burkina Faso, Cote d'Ivoire and Liberia increased by +5.6, +3.4, +2.5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported tarred, bituminised or asphalted paper and paperboard in ECOWAS, comprising 79% of total imports. The second position in the ranking was held by Mali ($X), with a 5.9% share of total imports. It was followed by Togo, with a 5.4% share.

In Nigeria, asphalted paper imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (+5.3% per year) and Togo (+7.0% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by 1.9% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asphalted paper import price increased by +19.5% against 2017 indices. The growth pace was the most rapid in 2017 when the import price increased by 52%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+12.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform