ECOWAS: Plastic Packaging Market 2024

Plastic Packaging Market Size in ECOWAS

The ECOWAS plastic packaging market rose slightly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Packaging Production in ECOWAS

In value terms, plastic packaging production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Packaging Exports

Exports in ECOWAS

In 2022, shipments abroad of plastic packaging increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic packaging exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Togo (X tons) represented the key exporter of plastic packaging, making up X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%) and Senegal (X%). Ghana (X tons) held a little share of total exports.

Togo was also the fastest-growing in terms of the plastic packaging exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Nigeria experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X), Cote d'Ivoire ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Togo, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Plastic Packaging Imports

Imports in ECOWAS

In 2022, approx. X tons of plastic packaging were imported in ECOWAS; rising by X% compared with 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 pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic packaging imports fell slightly 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 growth pace was the most rapid in 2013 when imports increased by X%. 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

Mali (X tons), Burkina Faso (X tons), Ghana (X tons), Nigeria (X tons), Benin (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Guinea (X tons) represented roughly X% of total imports in 2022.

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, Ghana ($X), Mali ($X) and Benin ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Senegal, Nigeria, Burkina Faso and Guinea lagged somewhat behind, together accounting for a further X%.

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

The import price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Ghana ($X per ton), while Burkina Faso ($X per ton) 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 a decline in the import price figures.

Source: IndexBox Platform

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