Western Africa: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Western Africa

The West African plastics in primary forms market rose significantly to $X in 2023, increasing by X% against the previous year. Overall, consumption continues to indicate pronounced growth. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Plastics in Primary Forms in Western Africa

In value terms, plastics in primary forms production rose remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Plastics in Primary Forms

Exports in Western Africa

Plastics in primary forms exports fell markedly to X tons in 2023, waning by X% compared with the previous year's figure. Over the period under review, exports recorded a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, plastics in primary forms exports fell significantly to $X in 2023. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 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

In 2023, Ghana (X tons), Nigeria (X tons) and Senegal (X tons) represented the key exporter of plastics in primary formses in Western Africa, constituting X% of total export. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total exports. The following exporters - Mali (X tons), Togo (X tons) and Mauritania (X tons) - each accounted for a X% 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, Ghana ($X) emerged as the largest plastics in primary forms supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Ghana, plastics in primary forms exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a 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 Mali ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Imports of Plastics in Primary Forms

Imports in Western Africa

In 2023, approx. X tons of plastics in primary formses were imported in Western Africa; approximately reflecting the previous year's figure. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, plastics in primary forms imports dropped to $X in 2023. Total imports indicated strong 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. 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 2022, and then reduced in the following year.

Imports by Country

In 2023, Nigeria (X tons) was the main importer of plastics in primary formses, making up X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%) and Togo (X%). Senegal (X tons) and Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to plastics in primary forms imports into Nigeria stood at X%. At the same time, Togo (X%), Cote d'Ivoire (X%), Ghana (X%), Senegal (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, plastics in primary forms imports expanded at an average annual rate of X% over the period from 2012-2023. 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

In 2023, the import price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price showed a mild slump. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Guinea ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform