Western Africa: Polycarbonate Market 2024

Polycarbonate Market Size in Western Africa

The West African polycarbonate market reduced to $X in 2022, waning by -3.4% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Polycarbonate Production in Western Africa

In value terms, polycarbonate production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a slight reduction. The growth pace was the most rapid in 2016 with an increase of 32% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Polycarbonate Exports

Exports in Western Africa

After five years of growth, overseas shipments of polycarbonates (in primary forms) decreased by -5.2% to X tons in 2022. Overall, exports saw a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 77%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polycarbonate exports fell to $X in 2022. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 33%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the major exporter of polycarbonates (in primary forms) in Western Africa, with the volume of exports resulting at X tons, which was near 59% of total exports in 2022. Nigeria (X tons) ranks second in terms of the total exports with a 21% share, followed by Sierra Leone (19%).

Ghana experienced a relatively flat trend pattern with regard to volume of exports of polycarbonates (in primary forms). At the same time, Sierra Leone (+13.3%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +13.3% from 2012-2022. By contrast, Nigeria (-24.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Sierra Leone increased by +43 and +18 percentage points, respectively.

In value terms, Sierra Leone ($X), Ghana ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, together comprising 97% of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of +10.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, leveling off at the previous year. Overall, the export price showed prominent growth. The pace of growth was the most pronounced in 2016 when the export price increased by 127%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained 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 Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+9.7%), while the other leaders experienced a decline in the export price figures.

Polycarbonate Imports

Imports in Western Africa

In 2022, supplies from abroad of polycarbonates (in primary forms) increased by 18% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2020 when imports increased by 26% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, polycarbonate imports surged to $X in 2022. Overall, imports, however, recorded a mild setback. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the major importing country with an import of about X tons, which accounted for 86% of total imports. It was distantly followed by Ghana (X tons), creating an 11% share of total imports. Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polycarbonate imports into Nigeria stood at -9.4%. At the same time, Cote d'Ivoire (+29.0%) and Ghana (+5.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +29.0% from 2012-2022. Ghana (+7.9 p.p.) and Cote d'Ivoire (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -10% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported polycarbonates (in primary forms) in Western Africa, comprising 92% of total imports. The second position in the ranking was taken by Ghana ($X), with a 6.1% share of total imports.

In Nigeria, polycarbonate imports decreased by an average annual rate of -1.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+5.0% per year) and Cote d'Ivoire (+34.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 46% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polycarbonate import price increased by +126.5% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+8.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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