Ghana: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Ghana

The Ghanian market for polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021, jumping by 56% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Ghana

Exports of polyethylene with a specific gravity of less than X, in primary forms from Ghana surged to X tons in 2021, growing by 302% on 2020 figures. Over the period under review, exports posted a resilient expansion. Over the period under review, the exports of attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Overall, exports saw a resilient increase. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons), Burkina Faso (X tons) and Togo (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Ghana, with a combined 98% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Togo (with a CAGR of +59.6%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Togo ($X) and Nigeria ($X) constituted the largest markets for polyethylene with a specific gravity of less than X exported from Ghana worldwide, together comprising 86% of total exports.

Togo, with a CAGR of +52.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, rising by 3.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 319% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Burkina Faso ($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 India (+1.5%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Ghana

In 2021, approx. X tons of polyethylene with a specific gravity of less than X, in primary forms were imported into Ghana; jumping by 19% compared with 2020 figures. Overall, imports saw a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 48%. Over the period under review, imports of attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Over the period under review, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of polyethylene with a specific gravity of less than X to Ghana, with a 39% share of total imports. Moreover, imports of polyethylene with a specific gravity of less than X, in primary forms from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Qatar (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia stood at +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.4% per year) and Qatar (+11.6% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Ghana, comprising 41% of total imports. The second position in the ranking was held by the United States ($X), with a 9.1% share of total imports. It was followed by India, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+18.7% per year) and India (+37.3% per year).

Import Prices by Country

The average import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, surging by 51% against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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