ECOWAS: Plastic Headgear Market 2024

Plastic Headgear Market Size in ECOWAS

The ECOWAS plastic headgear market shrank slightly to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Plastic Headgear Production in ECOWAS

In value terms, plastic headgear production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Plastic Headgear Exports

Exports in ECOWAS

In 2022, approx. X units of headgear of rubber or plastic were exported in ECOWAS; with an increase of X% on the previous year. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic headgear exports soared to $X in 2022. Overall, exports continue to indicate a noticeable increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the key exporter of headgear of rubber or plastic in ECOWAS, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Niger (X units), comprising a X% share of total exports. Togo (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic headgear exports from Nigeria stood at X%. At the same time, Niger (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Togo (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Niger (X p.p.) displayed negative dynamics.

In Nigeria, plastic headgear exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Togo (X% per year) and Niger (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Togo ($X per unit), while Nigeria ($X per unit) was 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 a decline in the export price figures.

Plastic Headgear Imports

Imports in ECOWAS

In 2022, approx. X units of headgear of rubber or plastic were imported in ECOWAS; increasing by X% against the previous year. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, plastic headgear imports surged to $X in 2022. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Ghana (X units) was the major importer of headgear of rubber or plastic, committing X% of total imports. Nigeria (X units) took the second position in the ranking, followed by Benin (X units), Burkina Faso (X units), Senegal (X units) and Togo (X units). All these countries together held approx. X% share of total imports. Cote d'Ivoire (X units) took a minor share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Nigeria (X%), Burkina Faso (X%), Togo (X%), Cote d'Ivoire (X%) and Benin (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal (X p.p.), Nigeria (X p.p.) and Ghana (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, the largest plastic headgear importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Senegal ($X), with a combined X% share of total imports.

Nigeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Ghana ($X per unit) 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 mixed trends in the import price figures.

Source: IndexBox Platform

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