ECOWAS: Composite Paperboard Market 2024

Composite Paperboard Market Size in ECOWAS

The ECOWAS composite paperboard market fell to $X in 2023, which is down by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Composite Paperboard Production in ECOWAS

In value terms, composite paperboard production contracted to $X in 2023 estimated in export price. In general, production recorded a slight setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Composite Paperboard Exports

Exports in ECOWAS

After two years of growth, overseas shipments of composite paper and paperboard decreased by X% to X tons in 2023. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, composite paperboard exports shrank significantly to $X in 2023. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Mali (X tons) was the key exporter of composite paper and paperboard, generating X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), generating a X% share of total exports.

Mali was also the fastest-growing in terms of the composite paper and paperboard exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest composite paperboard supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Mali totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price, however, posted a modest increase. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

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 Mali ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%).

Composite Paperboard Imports

Imports in ECOWAS

In 2023, approx. X tons of composite paper and paperboard were imported in ECOWAS; with a decrease of X% on 2022 figures. Overall, imports showed a slight decline. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, composite paperboard imports declined dramatically to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria was the largest importer of composite paper and paperboard in ECOWAS, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Ghana (X tons). All these countries together took near X% share of total imports. Togo (X tons), Senegal (X tons), Cabo Verde (X tons) and Niger (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to composite paperboard imports into Nigeria stood at X%. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Niger (X%), Togo (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Togo (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, composite paperboard imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: 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 2023, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform