ECOWAS: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in ECOWAS

The ECOWAS polyethylene binder market stood at $X in 2022, surging by X% against the previous year. The total consumption indicated measured 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 decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in ECOWAS

In value terms, polyethylene binder production stood at $X in 2022 estimated in export price. The total production indicated a measured increase 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Polyethylene Binder Exports

Exports in ECOWAS

In 2022, after three years of growth, there was decline in overseas shipments of polyethylene or polypropylene binder or baler (agricultural) twines, when their volume decreased by X% to X tons. In general, exports, however, saw a significant increase. The pace of growth appeared 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 tons in 2021, and then fell slightly in the following year.

In value terms, polyethylene binder exports fell to $X in 2022. Over the period under review, exports, however, saw a significant 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 reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

The shipments of the one major exporters of polyethylene or polypropylene binder or baler (agricultural) twines, namely Senegal, represented more than two-thirds of total export.

Senegal was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines exports, with a CAGR of X% from 2014 to 2022. While the share of Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest polyethylene binder supplier in ECOWAS.

From 2014 to 2022, the average annual growth rate of value in Senegal stood at X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2014 to 2022, the rate of growth in terms of prices for Senegal amounted to X% per year.

Polyethylene Binder Imports

Imports in ECOWAS

In 2022, polyethylene binder imports in ECOWAS amounted to X tons, picking up by X% against 2021 figures. Over the period under review, imports, however, showed a mild slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, polyethylene binder imports shrank to $X in 2022. Overall, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mali represented the largest importer of polyethylene or polypropylene binder or baler (agricultural) twines in ECOWAS, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Ghana (X tons) held the second position in the ranking, distantly followed by Nigeria (X tons), Togo (X tons) and Benin (X tons). All these countries together took near X% share of total imports. Guinea (X tons) and Cote d'Ivoire (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Mali ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Guinea, Benin, Togo and Cote d'Ivoire lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Benin, 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. Over the period under review, the import price saw a slight reduction. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Ghana ($X per ton), while Togo ($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.

Source: IndexBox Platform

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