Ghana: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Ghana

In 2021, after four years of growth, there was significant decline in the Ghanian market for acrylic polymers, in primary forms (excluding polymethyl methacrylate), when its value decreased by -17.5% to $X. Over the period under review, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2020, and then fell dramatically in the following year.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Ghana

Exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Ghana shrank remarkably to X tons in 2021, with a decrease of -27.8% compared with 2020 figures. Over the period under review, exports, however, showed a prominent increase. The growth pace was the most rapid in 2017 with an increase of 225%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) contracted significantly to $X in 2021. In general, exports, however, showed a measured increase. The most prominent rate of growth was recorded in 2017 with an increase of 150% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons), Cote d'Ivoire (X tons) and Angola (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Ghana.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +28.7%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Ghana were Burkina Faso ($X), Cote d'Ivoire ($X) and Angola ($X), with a combined 99.9% share of total exports.

Burkina Faso, with a CAGR of +23.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the export price, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2019 an increase of 41% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-0.2%).

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Ghana

In 2021, overseas purchases of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -18.6% to X tons for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 59% against the previous year. As a result, imports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) declined sharply to $X in 2021. In general, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2014 when imports increased by 62% against the previous year. Imports peaked at $X in 2020, and then fell notably in the following year.

Imports by Country

South Korea (X tons), India (X tons) and Turkey (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Ghana, together accounting for 52% of total imports. Taiwan (Chinese), South Africa, China, Japan, France and Saudi Arabia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +70.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Ghana, comprising 56% of total imports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total imports. It was followed by South Africa, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +64.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+50.1% per year) and South Africa (+16.0% per year).

Import Prices by Country

In 2021, the average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 14%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform