Western Africa: Plaster Article Market 2024

Plaster Article Market Size in Western Africa

The West African plaster article market declined dramatically to $X in 2021, with a decrease of -19.2% against the previous year. In general, consumption, however, recorded temperate growth. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Plaster Article Production in Western Africa

In value terms, plaster article production reduced notably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a notable expansion. The most prominent rate of growth was recorded in 2020 with an increase of 120% against the previous year. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Plaster Article Exports

Exports in Western Africa

Plaster article exports surged to X tons in 2021, with an increase of 1,328% compared with the previous year's figure. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plaster article exports soared to $X in 2021. Over the period under review, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was approx. 94% of total exports in 2021. Ghana (X tons) held a minor share of total exports.

Senegal was also the fastest-growing in terms of the articles of plaster or of compositions based on plaster exports, with a CAGR of +105.5% from 2012 to 2021. At the same time, Ghana (+9.6%) displayed positive paces of growth. From 2012 to 2021, the share of Senegal increased by +91 percentage points.

In value terms, Senegal ($X) emerged as the largest plaster article supplier in Western Africa, comprising 85% of total exports. The second position in the ranking was held by Ghana ($X), with a 7.2% share of total exports.

In Senegal, plaster article exports expanded at an average annual rate of +87.2% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with a decrease of -70.7% against the previous year. Over the period under review, the export price faced a deep reduction. The pace of growth was the most pronounced in 2020 an increase of 183%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-8.9%).

Plaster Article Imports

Imports in Western Africa

In 2021, the amount of articles of plaster or of compositions based on plaster imported in Western Africa expanded significantly to X tons, rising by 14% on the previous year. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.2% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 37% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, plaster article imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +10.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.2% against 2017 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 49%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) was the main importer of articles of plaster or of compositions based on plaster, generating 42% of total imports. Ghana (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (12%) and Senegal (7.3%). Cabo Verde (X tons), Guinea (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Cote d'Ivoire (with a CAGR of +32.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 80% of total imports.

Cote d'Ivoire, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 16% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guinea ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :