ECOWAS: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in ECOWAS

The ECOWAS polyethylene in primary forms market expanded notably to $X in 2023, increasing by X% against the previous year. The total consumption indicated modest growth 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, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Polyethylene in Primary Forms in ECOWAS

In value terms, polyethylene in primary forms production expanded remarkably to $X in 2023 estimated in export price. The total production indicated a modest increase 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports in ECOWAS

In 2023, the amount of polyethylene in primary forms exported in ECOWAS declined rapidly to X tons, with a decrease of X% compared with the previous year. Over the period under review, exports saw a pronounced slump. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. 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, polyethylene in primary forms exports contracted dramatically to $X in 2023. In general, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the major exporting country with an export of about X tons, which amounted to X% of total exports. Senegal (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%). Nigeria (X tons) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the polyethylene in primary forms exports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana, Cote d'Ivoire and Senegal increased by X, X and X percentage points, respectively.

In value terms, Ghana ($X) emerged as the largest polyethylene in primary forms supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price, however, showed a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, 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 Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in ECOWAS

After two years of decline, purchases abroad of polyethylene in primary forms increased by X% to X tons in 2023. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms imports fell to $X in 2023. Total imports indicated a resilient 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, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then contracted in the following year.

Imports by Country

Nigeria represented the main importing country with an import of around X tons, which finished at X% of total imports. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Togo (X%). The following importers - Senegal (X tons) and Guinea (X tons) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Togo (X%), Cote d'Ivoire (X%), Ghana (X%), Guinea (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Nigeria (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Ghana saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price saw 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 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Senegal ($X per ton), while Togo ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform