Western Africa: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Western Africa

After three years of growth, the West African plastic ornamental articles market decreased by -11.8% to $X in 2022. Overall, consumption, however, posted a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank in the following year.

Plastic Ornamental Articles Production in Western Africa

In value terms, plastic ornamental articles production rose rapidly to $X in 2022 estimated in export price. In general, production, however, recorded a mild decrease. The growth pace was the most rapid in 2020 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports in Western Africa

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported in Western Africa; reducing by -2.2% against 2021 figures. Overall, exports continue to indicate a noticeable descent. The growth pace was the most rapid in 2016 when exports increased by 80%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic ornamental articles exports fell remarkably to $X in 2022. Over the period under review, exports recorded a noticeable decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 76%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Benin was the largest exporting country with an export of about X tons, which reached 44% of total exports. Ghana (X tons) ranks second in terms of the total exports with a 23% share, followed by Nigeria (20%) and Cote d'Ivoire (4.7%). Burkina Faso (X kg), Senegal (X kg) and Niger (X kg) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic ornamental articles supplying countries in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), together accounting for 56% of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +39.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, reducing by -21.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 99%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then contracted dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+15.2%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in Western Africa

After three years of growth, overseas purchases of statuettes and other ornamental articles of plastic decreased by -5.7% to X tons in 2022. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 204% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, plastic ornamental articles imports fell sharply to $X in 2022. In general, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 157%. The level of import peaked at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

In 2022, Ghana (X tons), distantly followed by Senegal (X tons), Guinea (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons) represented the largest importers of statuettes and other ornamental articles of plastic, together generating 92% of total imports. Cabo Verde (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ghana (with a CAGR of +56.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic ornamental articles importing markets in Western Africa were Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X), together comprising 73% of total imports.

Ghana, with a CAGR of +61.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, shrinking by -13.4% 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 2021 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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