Western Africa: Folding Boxboard Market 2024

Folding Boxboard Market Size in Western Africa

The West African folding boxboard market expanded sharply to $X in 2022, surging by X% against the previous year. The total consumption indicated buoyant 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, consumption increased by X% against 2018 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Folding Boxboard Production in Western Africa

In value terms, folding boxboard production shrank notably to $X in 2022 estimated in export price. In general, production, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by X,900%. The level of production peaked at $X in 2021, and then reduced sharply in the following year.

Folding Boxboard Exports

Exports in Western Africa

After four years of growth, overseas shipments of folding boxboard decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, folding boxboard exports reduced notably to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank significantly in the following year.

Exports by Country

In 2022, Togo (X tons) and Benin (X tons) represented the largest exporters of folding boxboard in Western Africa, together resulting at near X% of total exports. It was distantly followed by Senegal (X tons), achieving a X% share of total exports. Nigeria (X tons), Cote d'Ivoire (X tons), Ghana (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Benin ($X) remains the largest folding boxboard supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Benin stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Togo (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

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 Benin ($X per ton), while Nigeria ($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 more modest paces of growth.

Folding Boxboard Imports

Imports in Western Africa

In 2022, approx. X tons of folding boxboard were imported in Western Africa; growing by X% against the year before. Total imports indicated a resilient increase from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, folding boxboard imports totaled $X in 2022. Total imports indicated a notable expansion 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, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X tons) represented the major importer of folding boxboard, constituting X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), Ghana (X tons) and Senegal (X tons), together achieving a X% share of total imports. Togo (X tons) held a little share of total imports.

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

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

In Nigeria, folding boxboard imports contracted by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Togo ($X per ton) and Senegal ($X per ton), while Cote d'Ivoire ($X per ton) and Ghana ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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