Western Africa: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Western Africa

The West African polyethylene in primary forms market declined to $X in 2021, with a decrease of -9.6% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Polyethylene in Primary Forms in Western Africa

In value terms, polyethylene in primary forms production declined to $X in 2021 estimated in export price. Overall, production recorded a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of 36% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports in Western Africa

After two years of decline, overseas shipments of polyethylene in primary forms increased by 501% to X tons in 2021. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 818% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports soared to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 764%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria was the major exporting country with an export of about X tons, which finished at 83% of total exports. It was distantly followed by Senegal (X tons), comprising a 13% share of total exports.

Nigeria was also the fastest-growing in terms of the polyethylene in primary forms exports, with a CAGR of +13.6% from 2012 to 2021. At the same time, Senegal (+6.9%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria increased by +15 percentage points.

In value terms, Nigeria ($X) emerged as the largest polyethylene in primary forms supplier in Western Africa, comprising 85% of total exports. The second position in the ranking was taken by Senegal ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria was relatively modest.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, rising by 32% against the previous year. Over the period under review, the export price, however, saw a deep contraction. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-4.7%).

Imports of Polyethylene in Primary Forms

Imports in Western Africa

After two years of growth, overseas purchases of polyethylene in primary forms decreased by -17.6% to X tons in 2021. Overall, imports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 47%. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced notably in the following year.

In value terms, polyethylene in primary forms imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 53%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) was the key importer of polyethylene in primary forms, achieving 43% of total imports. It was distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Togo (X tons), together achieving a 45% share of total imports. The following importers - Senegal (X tons) and Guinea (X tons) - each recorded a 6.8% share of total imports.

Imports into Nigeria increased at an average annual rate of +10.6% from 2012 to 2021. At the same time, Guinea (+11.7%), Togo (+8.0%), Cote d'Ivoire (+7.1%), Ghana (+5.1%) and Senegal (+3.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +11.7% from 2012-2021. From 2012 to 2021, the share of Nigeria increased by +8.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported polyethylene in primary forms in Western Africa, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with an 18% share of total imports. It was followed by Cote d'Ivoire, with a 15% share.

In Nigeria, polyethylene in primary forms imports increased at an average annual rate of +11.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+5.0% per year) and Cote d'Ivoire (+4.7% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, increasing by 44% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Nigeria ($X per ton) and Senegal ($X per ton), while Guinea ($X per ton) and Cote d'Ivoire ($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 (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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