Western Africa: Compound Plasticisers Market 2024

Compound Plasticisers Market Size in Western Africa

The West African compound plasticisers market reduced slightly to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Compound Plasticisers Production in Western Africa

In value terms, compound plasticisers production declined to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Compound Plasticisers Exports

Exports in Western Africa

In 2022, shipments abroad of compound plasticisers for rubber or plastics was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports saw strong growth. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, compound plasticisers exports dropped significantly to $X in 2022. Overall, exports, however, faced a significant decline. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2022. Ghana (X tons) held a little share of total exports.

Nigeria was also the fastest-growing in terms of the compound plasticisers for rubber or plastics exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by X percentage points.

In value terms, Nigeria ($X) remains the largest compound plasticisers supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price faced a sharp decline. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Compound Plasticisers Imports

Imports in Western Africa

In 2022, approx. X tons of compound plasticisers for rubber or plastics were imported in Western Africa; picking up by X% on 2021 figures. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, compound plasticisers imports expanded markedly to $X in 2022. Overall, imports posted a resilient increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X tons), constituting a X% share of total imports. Gambia (X tons) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Gambia (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana and Gambia increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported compound plasticisers for rubber or plastics in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.

In Nigeria, compound plasticisers imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Gambia (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a 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 Ghana ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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