Western Africa: Polyethylene Binder Market 2023

Polyethylene Binder Market Size in Western Africa

The West African polyethylene binder market contracted slightly to $X in 2022, standing approx. at the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in Western Africa

In value terms, polyethylene binder production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Polyethylene Binder Exports

Exports in Western Africa

In 2022, shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -8.7% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 603% against the previous year. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, polyethylene binder exports dropped to $X in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,268%. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

The shipments of the one major exporters of polyethylene or polypropylene binder or baler (agricultural) twines, namely Senegal, represented more than two-thirds of total export.

Senegal was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines exports, with a CAGR of +77.4% from 2012 to 2022. While the share of Senegal (+58 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest polyethylene binder supplier in Western Africa.

In Senegal, polyethylene binder exports increased at an average annual rate of +76.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, saw a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 97% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to -0.3% per year.

Polyethylene Binder Imports

Imports in Western Africa

In 2022, imports of polyethylene or polypropylene binder or baler (agricultural) twines in Western Africa skyrocketed to X tons, rising by 33% against the year before. Over the period under review, imports continue to indicate a notable expansion. The growth pace was the most rapid in 2020 when imports increased by 230%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, polyethylene binder imports stood at $X in 2022. In general, imports, however, saw a mild decline. The most prominent rate of growth was recorded in 2020 with an increase of 137%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) and Mali (X tons) were the major importers of polyethylene or polypropylene binder or baler (agricultural) twines in Western Africa, together achieving 56% of total imports. Ghana (X tons) took the next position in the ranking, followed by Benin (X tons) and Senegal (X tons). All these countries together took approx. 33% share of total imports. Togo (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +65.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Mali ($X) and Nigeria ($X) were the countries with the highest levels of imports in 2022, together accounting for 70% of total imports.

In terms of the main importing countries, Mali, with a CAGR of +65.6%, saw 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 Western Africa amounted to $X per ton, with a decrease of -22.1% against the previous year. In general, the import price showed a pronounced slump. The most prominent rate of growth was recorded in 2015 when the import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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