GHANA PLASTIC MARKET

Ghana plastic market is projected to grow at a CAGR of 7.3% in the forecast years from 2024 to 2031 due to the increasing population, rising purchasing power combined with a growing demand for plastics across multiple industries.

Major Market Drivers and Emerging Trends

Plastics are a crucial part of daily life in Ghana with government institutions, corporations and individuals all relying on them. Finished plastics are in high demand for critical applications like food packaging and infrastructure construction. It is also crucial in oil and gas extraction along with mining.

Ghana plastic market size expansion is also expected to be driven by the rise in middle-class purchasing power. The growing middle class in Ghana is influencing the country’s long-term economic future with urbanization and economic growth playing key roles in this shift. This promotes economic diversification and the emergence of new sectors including hospitality and retail. The growing middle class also contributes to higher demand for consumer goods, electronics and automotive products which further fuel Ghana plastics market growth.

Consumer income levels and the manufacturing output of plastic companies also have a direct correlation with the demand for plastics. Plastic product demand shows moderate elasticity thereby fluctuations in income and price may cause consumers to opt for cheaper substitutes. The exchange rate along with import duties are key factors influencing the final price in the local market because most finished plastics and raw materials are imported. Therefore, when currency values depreciate and fiscal policies tighten, the cost of these products tends to rise which potentially affects the demand.

Like many countries in West Africa, Ghana imports more plastics than it exports. Due to the underdeveloped downstream gas and oil sector, plastics are brought into the country as virgin pellets or final goods. The country is home to at least 120 plastics manufacturing companies who produce semi-finished items like bottles and plastic bags.

However, UNDP noted that Ghana produces about one million tons of plastic waste annually with recycling rates reaching just 5%. The excess plastic waste remains in the environment and nearly 23% finds its way into the ocean. Therefore, in October 2019 Ghana officially joined the Global Plastic Action Partnership as its first partner from Africa. GPAP collaborates with governments and businesses to implement commitments into impactful actions both globally and nationally. With the support of the Global Environment Facility and UNIDO, GPAP is also helping raise USD 77 million for the creation of a circular economy model in the country.

Based on type, polyethylene is a commonly used material in the country mainly for packaging purposes such as plastic bags and containers like bottles or jars. The country imported plastics as much as 233 million kg in 2019 with PE and PVC representing around 86 percent of the total imports. PET is also experiencing rapid growth particularly with the rising efforts in recycling within the country. It is a widely used plastic and is highly recyclable. The growing understanding about plastic pollution is contributing to the recycled PET market expansion as more individuals acknowledge recycling as a crucial solution to the problem.

Based on end-user industry, the packaging sector is experiencing strong growth. The Ghana Plastics Manufacturers Association reports that the industry generates 27,000 million tons of flexible packaging annually which caters to large international companies and small local businesses. Additionally, the association notes that PET bottle manufacturing in the country reaches 68,000 million tonnes annually.

Top Market Players

Some major companies in the market are Polytank Ghana, Miniplast, Qualiplast, Nelplast, among others. The plastic manufacturing sector in Ghana consists mostly of small and medium businesses which makes it a highly competitive industry. Ghana is home to numerous companies that produce plastic products in different categories such as packaging materials and office supplies.

Key Developments

• • In 2024, Twellium in collaboration with Sidel is developing a newly established PET packaging plant in Ghana designed for both still and carbonated drinks. The new facility is reported to house the fastest PET water line in Africa which is capable of producing 80,000 bottles in an hour.
  • In 2023, Miniplast Ghana received USD 10.5 million investment from Norfund to help support its expansion in manufacturing and recycling. The funds from Norfund will be allocated to purchasing new manufacturing machinery and enabling Miniplast to diversify its product range.

Segments covered in the Report:

The Ghana Plastic Market has been segmented on the basis of type and end-use industry. Based on the type, the market is segmented into polypropylene, polyethylene, polyvinyl chloride, polyethylene terephthalate, polycarbonate, polyamide, polystyrene, polyurethane and others. Based on the end-use industry, the market is segmented into automotive & transportation, packaging, consumer goods, infrastructure & construction, healthcare & pharmaceuticals, electrical & electronics, others.

Market Segmentation

Ghana Plastic Market by Type

• • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polyvinyl Chloride
  • Polyamide
  • Polycarbonate
  • Polyurethane
  • Polystyrene
  • Others

Ghana Plastic Market by End-Use Industry 

• • Packaging
  • Automotive & Transportation
  • Infrastructure & Construction
  • Consumer Goods
  • Healthcare & Pharmaceuticals
  • Electrical & Electronics
  • Others

Ghana Plastic Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Polytank Ghana
  • Miniplast
  • Qualiplast
  • Nelplast