ECOWAS: Market for Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate) in ECOWAS

After five years of growth, the ECOWAS market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by X% to $X in 2023. Overall, consumption, however, saw a strong increase. The level of consumption peaked at $X in 2022, and then dropped in the following year.

Production of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate) in ECOWAS

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) rose notably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

Exports in ECOWAS

Exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to X tons in 2023, jumping by X% against 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports of failed to regain momentum.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) surged to $X in 2023. In general, exports, however, saw a perceptible reduction. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports of failed to regain momentum.

Exports by Country

Ghana was the largest exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Senegal (X tons), generating a X% share of total exports. Burkina Faso (X tons), Cote d'Ivoire (X tons), Mali (X tons), Nigeria (X tons) and Niger (X tons) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Burkina Faso (X%) and Niger (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Cote d'Ivoire (X%), Senegal (X%), Nigeria (X%) and Mali (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana and Burkina Faso increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana amounted to X%. 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 ECOWAS stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat 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 Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Imports of Acrylic Polymers, In Primary Forms (excluding Polymethyl Methacrylate)

Imports in ECOWAS

After eight years of growth, purchases abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by X% to X tons in 2023. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2022, and then shrank sharply in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) dropped significantly to $X in 2023. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank significantly in the following year.

Imports by Country

In 2023, Nigeria (X tons) and Ghana (X tons) were the major importers of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in ECOWAS, together amounting to approx. X% of total imports. Cote d'Ivoire (X tons) held the next position in the ranking, followed by Senegal (X tons). All these countries together took near X% share of total imports. Guinea (X tons), Burkina Faso (X tons) and Mali (X tons) took a little share of total imports.

From 2012 to 2023, 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, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Senegal, Mali, Guinea and Burkina Faso lagged somewhat behind, together comprising a further X%.

Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2023, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price saw a slight setback. The pace of growth appeared the most rapid in 2022 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 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Nigeria ($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 a decline in the import price figures.

Source: IndexBox Platform