Ghana: Plastic Support Market 2024

Plastic Support Market Size in Ghana

The Ghanian plastic support market totaled $X in 2022, growing by 2.1% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Plastic Support Production in Ghana

In value terms, plastic support production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 40%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Plastic Support Exports

Exports from Ghana

In 2022, plastic support exports from Ghana shrank rapidly to X tons, dropping by -36.8% on the previous year. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2018 with an increase of 867% 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 shrank to $X in 2022. Over the period under review, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 414%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for plastic support exports from Ghana, with a 69% share of total exports. Moreover, plastic support exports to Togo exceeded the volume sent to the second major destination, Niger (X tons), twofold. Cote d'Ivoire (X kg) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo totaled +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+101.0% per year) and Cote d'Ivoire (-36.7% per year).

In value terms, the largest markets for plastic support exported from Ghana were Togo ($X), Niger ($X) and Cote d'Ivoire ($X), with a combined 94% share of total exports.

In terms of the main countries of destination, Niger, with a CAGR of +110.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average plastic support export price stood at $X per ton in 2022, picking up by 35% against the previous year. In general, the export price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2017 an increase of 48% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, 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 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Ghana

In 2022, after two years of growth, there was significant decline in overseas purchases of spools, cops and similar supports of plastics, when their volume decreased by -13.8% to X tons. Over the period under review, imports, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2015 with an increase of 36%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, plastic support imports declined dramatically to $X in 2022. In general, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic support supplier to Ghana, with a 39% share of total imports. Moreover, plastic support imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.4% per year) and India (-4.2% per year).

In value terms, China ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Ghana, comprising 40% of total imports. The second position in the ranking was held by Spain ($X), with a 16% share of total imports. It was followed by India, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+6.4% per year) and India (+4.9% per year).

Import Prices by Country

In 2022, the average plastic support import price amounted to $X per ton, dropping by -2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2013 when the average import price increased by 18%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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