Western Africa: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in Western Africa

The West African market for cellular plates, sheets and films of polyymers of styrene reduced modestly to $X in 2022, remaining stable against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in Western Africa

In value terms, production of cellular plates, sheets and films of polyymers of styrene fell slightly to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.7% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 24%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports in Western Africa

In 2022, after three years of growth, there was significant decline in shipments abroad of cellular plates, sheets and films of polyymers of styrene, when their volume decreased by -94.6% to X tons. Overall, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 788% against the previous year. The volume of export peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene fell rapidly to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 817%. The level of export peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Ghana represented the key exporter of cellular plates, sheets and films of polyymers of styrene in Western Africa, with the volume of exports finishing at X tons, which was near 76% of total exports in 2022. It was distantly followed by Nigeria (X tons) and Togo (X tons), together making up a 24% share of total exports.

Exports from Ghana increased at an average annual rate of +13.2% from 2012 to 2022. At the same time, Nigeria (+32.3%) and Togo (+17.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +32.3% from 2012-2022. Nigeria (+12 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest polystyrene cellular plates, sheets and films supplier in Western Africa, comprising 83% of total exports. The second position in the ranking was held by Nigeria ($X), with a 9.7% share of total exports.

In Ghana, exports of cellular plates, sheets and films of polyymers of styrene expanded at an average annual rate of +10.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+22.8% per year) and Togo (+10.5% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by -34.3% against the previous year. In general, the export price recorded a pronounced slump. The pace of growth appeared the most rapid in 2021 an increase of 27% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports in Western Africa

In 2022, purchases abroad of cellular plates, sheets and films of polyymers of styrene decreased by -5.7% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, saw a resilient increase. The growth pace was the most rapid in 2020 with an increase of 125%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene skyrocketed to $X in 2022. Over the period under review, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 78%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Nigeria dominates styrene structure, reaching X tons, which was near 68% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a 5.1% share, followed by Senegal (4.7%). Ghana (X tons), Burkina Faso (X tons), Benin (X tons), Guinea (X tons) and Cabo Verde (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polystyrene cellular plates, sheets and films imports into Nigeria stood at +13.6%. At the same time, Senegal (+42.4%), Benin (+36.2%), Cabo Verde (+33.3%), Guinea (+29.3%), Burkina Faso (+16.8%), Ghana (+8.8%) and Cote d'Ivoire (+6.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +42.4% from 2012-2022. From 2012 to 2022, the share of Nigeria, Senegal, Benin, Burkina Faso and Guinea increased by +20, +4.4, +3.4, +2.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cellular plates, sheets and films of polyymers of styrene in Western Africa, comprising 60% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8.7% share of total imports. It was followed by Benin, with a 6.2% share.

In Nigeria, imports of cellular plates, sheets and films of polyymers of styrene expanded at an average annual rate of +12.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+5.3% per year) and Benin (+34.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by 28% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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