Western Africa: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Western Africa

In 2022, the West African plastic ornamental articles market decreased by X% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Plastic Ornamental Articles Production in Western Africa

In value terms, plastic ornamental articles production declined to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plastic Ornamental Articles Exports

Exports in Western Africa

In 2022, overseas shipments of statuettes and other ornamental articles of plastic increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a resilient expansion. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic ornamental articles exports totaled $X in 2022. Total exports indicated measured 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 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, Burkina Faso (X tons) was the major exporter of statuettes and other ornamental articles of plastic, creating X% of total exports. It was distantly followed by Nigeria (X tons), Benin (X tons) and Ghana (X tons), together comprising a X% share of total exports. Cote d'Ivoire (X kg) held a minor share of total exports.

Burkina Faso was also the fastest-growing in terms of the statuettes and other ornamental articles of plastic exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%), Ghana (X%) and Benin (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest plastic ornamental articles supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

In Nigeria, plastic ornamental articles exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Plastic Ornamental Articles Imports

Imports in Western Africa

In 2022, plastic ornamental articles imports in Western Africa expanded significantly to X tons, picking up by X% against the year before. Overall, imports showed a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic ornamental articles imports shrank to $X in 2022. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Ghana represented the key importer of statuettes and other ornamental articles of plastic in Western Africa, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Guinea (X tons), Senegal (X tons) and Nigeria (X tons), together mixing up a X% share of total imports. Cote d'Ivoire (X tons), Sierra Leone (X tons) and Liberia (X tons) took a minor share of total imports.

Ghana was also the fastest-growing in terms of the statuettes and other ornamental articles of plastic imports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%), Senegal (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Liberia (X%) displayed positive paces of growth. Guinea experienced a relatively flat trend pattern. Ghana (X p.p.), Senegal (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Sierra Leone, Cote d'Ivoire, Liberia and Guinea saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in Western Africa, comprising X% of total imports. The second position in the ranking was held by Guinea ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to X%. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a 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 Sierra Leone ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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