Western Africa: Plastic Bottle Market 2024

Plastic Bottle Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded growth in shipments abroad of carboys, bottles and similar articles of plastics, which increased by 238% to X tons in 2022. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle exports surged to $X in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria represented the major exporting country with an export of around X tons, which amounted to 78% of total exports. Mauritania (X tons) ranks second in terms of the total exports with an 11% share, followed by Benin (5.4%). Togo (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the carboys, bottles and similar articles of plastics exports, with a CAGR of +378.0% from 2020 to 2022. At the same time, Togo (+40.7%) displayed positive paces of growth. Benin experienced a relatively flat trend pattern. By contrast, Mauritania (-13.4%) illustrated a downward trend over the same period. Nigeria (+78 p.p.), Benin (+5.4 p.p.) and Togo (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Mauritania saw its share reduced by -88.7% from 2020 to 2022, respectively.

In value terms, Nigeria ($X) remains the largest plastic bottle supplier in Western Africa, comprising 78% of total exports. The second position in the ranking was taken by Mauritania ($X), with an 11% share of total exports. It was followed by Benin, with a 9.7% share.

In Nigeria, plastic bottle exports expanded at an average annual rate of +377.9% over the period from 2020-2022. In the other countries, the average annual rates were as follows: Mauritania (-13.4% per year) and Benin (0.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, increasing by 5.9% against the previous year. Over the period from 2020 to 2022, it increased at an average annual rate of +3.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Benin ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-0.1%).

Plastic Bottle Imports

Imports in Western Africa

In 2022, imports of carboys, bottles and similar articles of plastics in Western Africa skyrocketed to X tons, increasing by 43% on 2021. Total imports indicated significant growth from 2020 to 2022: its volume increased at an average annual rate of +21.4% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle imports skyrocketed to $X in 2022. Total imports indicated a significant expansion from 2020 to 2022: its value increased at an average annual rate of +21.4% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) was the main importer of carboys, bottles and similar articles of plastics, committing 65% of total imports. Burkina Faso (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Benin (4.9%). Togo (X tons) followed a long way behind the leaders.

From 2020 to 2022, average annual rates of growth with regard to plastic bottle imports into Nigeria stood at +19.9%. At the same time, Benin (+28.2%), Burkina Faso (+24.7%) and Togo (+3.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +28.2% from 2020-2022. Nigeria (-1.7 p.p.) significantly weakened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic bottle importing markets in Western Africa were Burkina Faso ($X), Nigeria ($X) and Benin ($X), with a combined 91% share of total imports.

Benin, with a CAGR of +48.8%, recorded the highest growth rate of 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 2022, the import price in Western Africa amounted to $X per ton, dropping by -13.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 15% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+16.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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