ECOWAS: Aluminium Foil Market 2024

Aluminium Foil Market Size in ECOWAS

The ECOWAS aluminium foil market dropped slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Aluminium Foil Production in ECOWAS

In value terms, aluminium foil production dropped significantly to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when the production volume decreased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Aluminium Foil Exports

Exports in ECOWAS

In 2022, approx. X tons of aluminium foil were exported in ECOWAS; which is down by X% compared with 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium foil exports contracted to $X in 2022. In general, exports recorded a perceptible decrease. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Sierra Leone (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons) represented the main exporter of aluminium foil in ECOWAS, mixing up X% of total export. It was distantly followed by Senegal (X tons) and Togo (X tons), together creating a X% share of total exports. Mali (X tons) and Ghana (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X), Cote d'Ivoire ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Mali, Nigeria, Togo and Ghana lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Ghana, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, recorded a perceptible slump. Over the period under review, the export prices reached the maximum at $X per ton 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Aluminium Foil Imports

Imports in ECOWAS

In 2022, supplies from abroad of aluminium foil decreased by X% to X tons, falling for the second consecutive year after six years of growth. Overall, imports, however, saw temperate growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, aluminium foil imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the key importer of aluminium foil in ECOWAS, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cote d'Ivoire (X%) and Senegal (X%). Burkina Faso (X tons), Mali (X tons) and Guinea (X tons) took a minor share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of aluminium foil. At the same time, Guinea (X%), Cote d'Ivoire (X%), Burkina Faso (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported aluminium foil in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, showed a mild shrinkage. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform