ECOWAS: Packaging Materials Market 2024

Packaging Materials Market Size in ECOWAS

The ECOWAS packaging materials market skyrocketed to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a sharp setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Packaging Materials Production in ECOWAS

In value terms, packaging materials production dropped sharply to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Packaging Materials Exports

Exports in ECOWAS

Packaging materials exports contracted notably to X tons in 2022, which is down by X% on the previous year's figure. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, packaging materials exports reduced sharply to $X in 2022. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

In 2022, Ghana (X tons) represented the largest exporter of packaging materials, committing X% of total exports. Senegal (X tons) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%).

Ghana was also the fastest-growing in terms of the packaging materials exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. From 2012 to 2022, the share of Ghana increased by X percentage points.

In value terms, the largest packaging materials supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X), together comprising X% of total exports.

Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, recorded a deep downturn. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Packaging Materials Imports

Imports in ECOWAS

In 2022, imports of packaging materials in ECOWAS surged to X tons, rising by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, packaging materials imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria (X tons), Cote d'Ivoire (X tons), Ghana (X tons) and Senegal (X tons) represented roughly X% of total imports in 2022. Benin (X tons) and Togo (X tons) took a little share of total imports.

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

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

Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 ECOWAS amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Togo ($X per ton), while Benin ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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