ECOWAS: Market for Polyolefins other than Polypropylene 2024

Market Size for Polyolefins other than Polypropylene in ECOWAS

The ECOWAS polyolefins other than polypropylene market stood at $X in 2023, therefore, remained relatively stable against the previous year. The total consumption indicated tangible 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. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Polyolefins other than Polypropylene in ECOWAS

In value terms, polyolefins other than polypropylene production amounted to $X in 2023 estimated in export price. The total production indicated buoyant 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Polyolefins other than Polypropylene

Exports in ECOWAS

In 2023, overseas shipments of polyolefins other than polypropylene decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, polyolefins other than polypropylene exports declined remarkably to $X in 2023. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Senegal (X tons) was the major exporter of polyolefins other than polypropylene, mixing up X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%) and Sierra Leone (X%). Niger (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to polyolefins other than polypropylene exports from Senegal stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Sierra Leone (X%), Cote d'Ivoire (X%) and Niger (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal, Ghana, Cote d'Ivoire and Sierra Leone increased by X, X, X and X percentage points, respectively.

In value terms, Senegal ($X) remains the largest polyolefins other than polypropylene supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Senegal, polyolefins other than polypropylene exports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Niger (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced more modest paces of growth.

Imports of Polyolefins other than Polypropylene

Imports in ECOWAS

In 2023, purchases abroad of polyolefins other than polypropylene was finally on the rise to reach X tons after two years of decline. Total imports indicated a moderate expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, polyolefins other than polypropylene imports dropped to $X in 2023. In general, imports, however, showed a mild reduction. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the key importing country with an import of about X tons, which resulted at X% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%) and Senegal (X%). Guinea (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to polyolefins other than polypropylene imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. Senegal experienced a relatively flat trend pattern. By contrast, Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Cote d'Ivoire, Nigeria and Ghana increased by X, X and X percentage points, respectively.

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

In Nigeria, polyolefins other than polypropylene imports decreased by an average annual rate of X% over the period from 2012-2023. 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

The import price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform