ECOWAS: Plaster Article Market 2024

Plaster Article Market Size in ECOWAS

The ECOWAS plaster article market rose sharply to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, continues to indicate a measured expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plaster Article Production in ECOWAS

In value terms, plaster article production surged to $X in 2022 estimated in export price. In general, production posted tangible growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plaster Article Exports

Exports in ECOWAS

In 2022, plaster article exports in ECOWAS fell significantly to X square meters, reducing by X% compared with 2021 figures. In general, exports, however, showed noticeable growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X square meters, and then reduced markedly in the following year.

In value terms, plaster article exports declined sharply to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Ghana was the largest exporting country with an export of around X square meters, which finished at X% of total exports. Senegal (X square meters) took the second position in the ranking, distantly followed by Nigeria (X square meters) and Cote d'Ivoire (X square meters). All these countries together took near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plaster article exports from Ghana stood at X%. At the same time, Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Ghana (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) emerged as the largest plaster article supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per square meter in 2022, with an increase of X% against the previous year. Overall, the export price, however, showed a perceptible shrinkage. Over the period under review, the export prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Cote d'Ivoire ($X per square meter) and Senegal ($X per square meter), while Nigeria ($X per square meter) and Ghana ($X per square meter) were amongst the lowest.

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

Plaster Article Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in purchases abroad of articles of plaster or of compositions based on plaster, when their volume decreased by X% to X square meters. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X square meters in 2021, and then declined markedly in the following year.

In value terms, plaster article imports declined notably to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. The level of import peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

Nigeria (X square meters) and Ghana (X square meters) were the major importers of articles of plaster or of compositions based on plaster in 2022, resulting at approx. X% and X% of total imports, respectively. It was distantly followed by Cote d'Ivoire (X square meters) and Senegal (X square meters), together making up a X% share of total imports. Cabo Verde (X square meters), Guinea (X square meters) and Mali (X square meters) held a little share of total imports.

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

In value terms, the largest plaster article importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports.

Cote d'Ivoire, with a CAGR of X%, 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

The import price in ECOWAS stood at $X per square meter in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per square meter), while Mali ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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