Western Africa: Composite Paperboard Market 2024

Composite Paperboard Market Size in Western Africa

The West African composite paperboard market contracted to $X in 2023, falling by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Composite Paperboard Production in Western Africa

In value terms, composite paperboard production fell to $X in 2023 estimated in export price. Overall, production continues to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Composite Paperboard Exports

Exports in Western Africa

In 2023, shipments abroad of composite paper and paperboard decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, composite paperboard exports declined notably to $X in 2023. In general, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Mali (X tons) represented the main exporter of composite paper and paperboard, achieving X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), creating a X% share of total exports.

Mali was also the fastest-growing in terms of the composite paper and paperboard exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire (X%) illustrated a downward trend over the same period. Mali (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest composite paperboard supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

In Mali, composite paperboard exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, posted mild growth. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

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 Mali ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%).

Composite Paperboard Imports

Imports in Western Africa

In 2023, composite paperboard imports in Western Africa fell significantly to X tons, declining by X% compared with 2022. Over the period under review, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, composite paperboard imports reduced markedly to $X in 2023. Overall, imports recorded a slight curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Nigeria (X tons) represented the key importer of composite paper and paperboard, constituting X% of total imports. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Ghana (X tons) and Mauritania (X tons). All these countries together held near X% share of total imports. Togo (X tons), Senegal (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to composite paperboard imports into Nigeria stood at X%. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Togo (X%), Mauritania (X%) and Senegal (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Cabo Verde (X p.p.) significantly strengthened its position in terms of the total imports, while Togo, Mauritania and Senegal saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported composite paper and paperboard in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

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

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 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 Ghana ($X per ton), while Togo ($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