Western Africa: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Western Africa

The West African polyethylene in primary forms market expanded modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, saw a mild downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Polyethylene in Primary Forms in Western Africa

In value terms, polyethylene in primary forms production expanded notably to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible slump. The growth pace was the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Polyethylene in Primary Forms

Exports in Western Africa

In 2022, approx. X tons of polyethylene in primary forms were exported in Western Africa; dropping by X% compared with 2021. Overall, exports, however, continue to indicate a notable expansion. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports fell rapidly to $X in 2022. Over the period under review, exports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria represented the major exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Senegal (X tons), achieving a X% share of total exports. Togo (X tons) and Cote d'Ivoire (X tons) took a relatively small share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal 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 ($X) remains the largest polyethylene in primary forms supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with an X% share of total exports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Togo (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, showed a abrupt decline. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

Imports of Polyethylene in Primary Forms

Imports in Western Africa

Polyethylene in primary forms imports reached X tons in 2022, remaining stable against the previous year. Overall, imports enjoyed prominent growth. 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 tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, polyethylene in primary forms imports stood at $X in 2022. Total imports indicated a remarkable increase 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 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Nigeria represented the largest importer of polyethylene in primary forms in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%) and Togo (X%). The following importers - Senegal (X tons) and Guinea (X tons) - each finished at a X% share of total imports.

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

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Nigeria, with a CAGR of X%, recorded 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

In 2022, the import price in Western Africa amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price showed a relatively flat trend pattern. 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.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea ($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