ECOWAS: Plastic Support Market 2024

Plastic Support Market Size in ECOWAS

The ECOWAS plastic support market amounted to $X in 2022, increasing by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Plastic Support Production in ECOWAS

In value terms, plastic support production stood at $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Plastic Support Exports

Exports in ECOWAS

After two years of growth, overseas shipments of spools, cops and similar supports of plastics decreased by X% to X tons in 2022. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The volume of export peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, plastic support exports reduced notably to $X in 2022. In general, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

The shipments of the three major exporters of spools, cops and similar supports of plastics, namely Cote d'Ivoire, Senegal and Ghana, represented more than two-thirds of total export. It was distantly followed by Mali (X tons), constituting an X% share of total exports. Nigeria (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Nigeria, Mali and Burkina Faso lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, 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 ECOWAS amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

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

Plastic Support Imports

Imports in ECOWAS

In 2022, after six years of growth, there was decline in overseas purchases of spools, cops and similar supports of plastics, when their volume decreased by X% to X tons. Total imports indicated a perceptible 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. Based on 2022 figures, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, plastic support imports fell modestly 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%. The level of import peaked at $X in 2021, and then fell slightly in the following year.

Imports by Country

The countries with the highest levels of plastic support imports in 2022 were Senegal (X tons), Nigeria (X tons) and Ghana (X tons), together reaching X% of total import. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Mali (X tons), Burkina Faso (X tons) and Guinea (X tons). All these countries together took near X% 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 Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

Among the main importing countries, Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, falling by X% against the previous year. In general, the import price saw a mild setback. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained 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 Cote d'Ivoire ($X per ton), while Senegal ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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