Western Africa: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports in Western Africa

In 2021, the amount of plastic plates, sheets, film, foil and strip exported in Western Africa soared to X tons, with an increase of 617% against 2020. Overall, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of plastic plates, sheets, film, foil and strip soared to $X in 2021. Over the period under review, exports continue to indicate measured growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria prevails in strip structure, finishing at X tons, which was near 88% of total exports in 2021. It was distantly followed by Togo (X tons), creating a 9.2% share of total exports.

Nigeria was also the fastest-growing in terms of the plastic plates, sheets, film, foil and strip exports, with a CAGR of +69.6% from 2012 to 2021. At the same time, Togo (+1.4%) displayed positive paces of growth. While the share of Nigeria (+85 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Togo (-24.5 p.p.) displayed negative dynamics.

In value terms, the largest plastic plate, sheet, film, foil and strip supplying countries in Western Africa were Nigeria ($X) and Togo ($X).

Nigeria, with a CAGR of +35.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with a decrease of -70% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-0.8%).

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports in Western Africa

In 2021, approx. X tons of plastic plates, sheets, film, foil and strip were imported in Western Africa; dropping by -27.3% compared with 2020 figures. In general, imports, however, showed a temperate increase. The growth pace was the most rapid in 2020 when imports increased by 81% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, imports of plastic plates, sheets, film, foil and strip reduced to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 75% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the largest importer of plastic plates, sheets, film, foil and strip, creating 47% of total imports. Ghana (X tons) ranks second in terms of the total imports with a 16% share, followed by Senegal (9.2%) and Cote d'Ivoire (8.4%). Burkina Faso (X tons), Togo (X tons) and Guinea (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to plastic plate, sheet, film, foil and strip imports into Nigeria stood at +1.3%. At the same time, Senegal (+12.6%), Ghana (+12.1%), Burkina Faso (+10.8%), Guinea (+9.3%), Cote d'Ivoire (+7.2%) and Togo (+7.0%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +12.6% from 2012-2021. While the share of Ghana (+7.5 p.p.), Senegal (+4.4 p.p.), Burkina Faso (+1.6 p.p.) and Cote d'Ivoire (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-16.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported plastic plates, sheets, film, foil and strip in Western Africa, comprising 41% of total imports. The second position in the ranking was taken by Ghana ($X), with a 19% share of total imports. It was followed by Cote d'Ivoire, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +2.1%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+11.7% per year) and Cote d'Ivoire (+4.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, jumping by 22% against the previous year. Overall, the import price saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Ghana ($X per ton) and Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) and Burkina Faso ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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