ECOWAS: Natural Polymers Market 2024

Natural Polymers Market Size in ECOWAS

The ECOWAS natural polymers market was estimated at $X in 2022, surging by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Natural Polymers Production in ECOWAS

In value terms, natural polymers production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Natural Polymers Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in shipments abroad of natural and modified natural polymers in primary forms, when their volume increased by X% to X tons. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural polymers exports skyrocketed to $X in 2022. Over the period under review, exports saw a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the main exporter of natural and modified natural polymers in primary forms, comprising X% of total exports. Senegal (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%) and Guinea (X%). Gambia (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to natural polymers exports from Ghana stood at X%. At the same time, Gambia (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Guinea experienced a relatively flat trend pattern. While the share of Ghana (X p.p.), Senegal (X p.p.), Nigeria (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guinea (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest natural polymers supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

In Ghana, natural polymers exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a pronounced decline. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Gambia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the export price figures.

Natural Polymers Imports

Imports in ECOWAS

In 2022, the amount of natural and modified natural polymers in primary forms imported in ECOWAS soared to X tons, increasing by X% on the year before. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, natural polymers imports surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Senegal (X tons) and Ghana (X tons) were the key importers of natural and modified natural polymers in primary forms in ECOWAS, together recording near X% of total imports. Cote d'Ivoire (X tons) held the next position in the ranking, followed by Nigeria (X tons). All these countries together took near X% share of total imports. Guinea (X tons) and Niger (X tons) took a relatively small share of total imports.

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

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Senegal, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 ton in 2022, shrinking by X% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform