Western Africa: Plastic Furniture Market 2024

Plastic Furniture Market Size in Western Africa

The West African plastic furniture market skyrocketed to $X in 2021, increasing by 20% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +72.2% against 2015 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

Plastic Furniture Production in Western Africa

In value terms, plastic furniture production expanded to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Plastic Furniture Exports

Exports in Western Africa

For the fourth year in a row, Western Africa recorded decline in overseas shipments of furniture of plastic, which decreased by -75.5% to X units in 2021. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 368%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, plastic furniture exports shrank markedly to $X in 2021. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 337% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana represented the major exporter of furniture of plastic in Western Africa, with the volume of exports resulting at X units, which was approx. 54% of total exports in 2021. Cote d'Ivoire (X units) ranks second in terms of the total exports with a 31% share, followed by Togo (5.3%) and Nigeria (5.2%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of +6.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest plastic furniture supplying countries in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), with a combined 82% share of total exports.

Cote d'Ivoire, with a CAGR of +6.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, which is down by -10.5% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 16%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+0.2%), while the other leaders experienced mixed trends in the export price figures.

Plastic Furniture Imports

Imports in Western Africa

In 2021, overseas purchases of furniture of plastic were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture imports surged to $X in 2021. Overall, imports showed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the major importing country with an import of about X units, which amounted to 61% of total imports. It was distantly followed by Ghana (X units), Cote d'Ivoire (X units) and Burkina Faso (X units), together mixing up a 23% share of total imports. The following importers - Senegal (X units), Benin (X units) and Gambia (X units) - together made up 8.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture imports into Nigeria stood at +5.9%. At the same time, Cote d'Ivoire (+21.7%), Gambia (+21.6%), Burkina Faso (+14.0%), Senegal (+9.2%), Ghana (+7.2%) and Benin (+6.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +21.7% from 2012-2021. Cote d'Ivoire (+5.2 p.p.) and Burkina Faso (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -11.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2021, together comprising 81% of total imports. These countries were followed by Senegal, Burkina Faso, Benin and Gambia, which together accounted for a further 11%.

In terms of the main importing countries, Gambia, with a CAGR of +18.9%, recorded the highest growth rate of the value of imports, 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 unit, shrinking by -31.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per unit, and then reduced markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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