Western Africa: Plastic Closure Market 2024

Plastic Closure Market Size in Western Africa

The West African plastic closure market soared to $X in 2023, surging by X% against the previous year. Overall, consumption saw a mild expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Plastic Closure Production in Western Africa

In value terms, plastic closure production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production recorded slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Plastic Closure Exports

Exports in Western Africa

Plastic closure exports skyrocketed to X tons in 2023, growing by X% on the previous year's figure. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, plastic closure exports surged to $X in 2023. In general, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Ghana (X tons) and Cote d'Ivoire (X tons) were the major exporters of plastic stoppers, caps and closures in Western Africa, together achieving X% of total exports. Senegal (X tons) held the next position in the ranking, distantly followed by Togo (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Togo lagged somewhat behind, comprising a further X%.

Togo, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price saw a perceptible slump. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

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

Plastic Closure Imports

Imports in Western Africa

In 2023, approx. X tons of plastic stoppers, caps and closures were imported in Western Africa; with a decrease of X% compared with 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, plastic closure imports reduced modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Nigeria (X tons), distantly followed by Senegal (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Mali (X tons), Burkina Faso (X tons), Mauritania (X tons) and Guinea (X tons) represented the major importers of plastic stoppers, caps and closures, together comprising X% of total imports. Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), together comprising X% of total imports. Ghana, Mali, Mauritania, Guinea, Burkina Faso and Sierra Leone lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Guinea, with a CAGR of X%, recorded 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

In 2023, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform