ECOWAS: Market for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) 2024

Market Size for Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in ECOWAS

The ECOWAS polyesters in primary forms market expanded slightly to $X in 2023, with an increase of X% against the previous year. The total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters) in ECOWAS

In value terms, polyesters in primary forms production rose modestly to $X in 2023 estimated in export price. The total production indicated a remarkable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Exports in ECOWAS

In 2023, approx. X tons of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters) were exported in ECOWAS; waning by X% compared with the previous year's figure. Overall, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, polyesters in primary forms exports dropped markedly to $X in 2023. In general, exports, however, recorded temperate growth. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Ghana was the key exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Mali (X tons), committing a X% share of total exports. Senegal (X tons) took a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest polyesters in primary forms supplying countries in ECOWAS were Mali ($X), Ghana ($X) and Senegal ($X), together comprising X% of total exports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, jumping by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyesters in Primary Forms (excluding Polyacetals, Polyethers, Epoxide Resins, Polycarbonates, Alkyd Resins, Polyethylene Terephthalate, other Unsaturated Polyesters)

Imports in ECOWAS

In 2023, polyesters in primary forms imports in ECOWAS skyrocketed to X tons, rising by X% compared with the previous year. Overall, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, polyesters in primary forms imports soared to $X in 2023. In general, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Nigeria (X tons) represented the major importer of polyesters in primary forms (excluding polyacetals, polyethers, epoxide resins, polycarbonates, alkyd resins, polyethylene terephthalate, other unsaturated polyesters), constituting X% of total imports. It was distantly followed by Ghana (X tons) and Togo (X tons), together committing a X% share of total imports. The following importers - Senegal (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to polyesters in primary forms imports into Nigeria stood at X%. At the same time, Ghana (X%), Togo (X%), Senegal (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Ghana, Togo and Senegal increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polyesters in primary forms importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Togo ($X), with a combined X% share of total imports.

Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in ECOWAS stood at $X per ton in 2023, remaining relatively unchanged against the previous year. In general, the import price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform