ECOWAS: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in ECOWAS

In 2022, the ECOWAS polyethylene glycol and polyether market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption recorded a slight descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Polyethylene Glycols and Polyethers in Primary Forms in ECOWAS

In value terms, polyethylene glycol and polyether production stood at $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports in ECOWAS

In 2022, shipments abroad of polyethylene glycols and polyethers in primary forms decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports shrank to $X in 2022. In general, exports showed a deep downturn. The growth pace was the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X tons), distantly followed by Nigeria (X tons), Senegal (X tons), Niger (X tons) and Togo (X tons) were the main exporters of polyethylene glycols and polyethers in primary forms, together creating X% of total exports. Cote d'Ivoire (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Niger ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports in ECOWAS

In 2022, overseas purchases of polyethylene glycols and polyethers in primary forms decreased by X% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated slight growth 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. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, polyethylene glycol and polyether imports shrank rapidly to $X in 2022. Total imports indicated mild 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 2020 with an increase of X%. The level of import peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of polyethylene glycols and polyethers in primary forms, creating X% of total imports. Ghana (X tons) ranks second in terms of the total imports with an X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). The following importers - Mali (X tons) and Guinea (X tons) - each amounted to a X% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of polyethylene glycols and polyethers in primary forms. At the same time, Cote d'Ivoire (X%), Guinea (X%), Senegal (X%), Mali (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported polyethylene glycols and polyethers in primary forms in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, polyethylene glycol and polyether imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform