Western Africa: Market for Polyethylene in Primary Forms 2022

Market Size for Polyethylene in Primary Forms in Western Africa

In 2021, after three years of growth, there was decline in the West African polyethylene in primary forms market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Polyethylene in Primary Forms in Western Africa

In value terms, polyethylene in primary forms production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports in Western Africa

In 2021, approx. X tons of polyethylene in primary forms were exported in Western Africa; which is down by -X% against 2020. Over the period under review, exports, however, continue to indicate a notable increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports contracted rapidly to $X in 2021. Overall, exports continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Nigeria (X tons) represented the major exporter of polyethylene in primary forms, creating X% of total exports. It was distantly followed by Senegal (X tons), committing a X% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene in primary forms exports from Nigeria stood at +X%. At the same time, Senegal (+X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +X% from 2012-2021. While the share of Senegal (+X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest polyethylene in primary forms supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with an X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at -X%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a deep setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-X%).

Imports of Polyethylene in Primary Forms

Imports in Western Africa

In 2021, after two years of growth, there was significant decline in supplies from abroad of polyethylene in primary forms, when their volume decreased by -X% to X tons. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then fell in the following year.

In value terms, polyethylene in primary forms imports declined modestly to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

Nigeria represented the main importer of polyethylene in primary forms in Western Africa, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2021. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Togo (X tons) and Ghana (X tons). All these countries together held near X% share of total imports. Senegal (X tons) and Guinea (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the polyethylene in primary forms imports, with a CAGR of +X% from 2012 to 2021. At the same time, Guinea (+X%), Togo (+X%), Senegal (+X%) and Cote d'Ivoire (+X%) displayed positive paces of growth. By contrast, Ghana (-X%) illustrated a downward trend over the same period. Nigeria (+X p.p.) significantly strengthened its position in terms of the total imports, while Senegal, Cote d'Ivoire and Ghana saw its share reduced by -X%, -X% and -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported polyethylene in primary forms in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Togo, with a X% share.

In Nigeria, polyethylene in primary forms imports expanded at an average annual rate of +X% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (-X% per year) and Togo (+X% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable slump. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Senegal ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, 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