ECOWAS: Fiberboard Market 2024

Fiberboard Market Size in ECOWAS

In 2022, the ECOWAS fiberboard market decreased by X% to $X, falling for the fifth year in a row after six years of growth. 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 in certain years. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Fiberboard Production in ECOWAS

In value terms, fiberboard production fell modestly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Fiberboard Exports

Exports in ECOWAS

In 2022, after three years of growth, there was significant decline in shipments abroad of fiber board of wood or other ligneous materials, when their volume decreased by X% to X cubic meters. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, fiberboard exports fell rapidly to $X in 2022. In general, exports, however, recorded perceptible growth. The growth pace was the most rapid in 2016 with an increase of X%. The level of export peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of about X cubic meters, which amounted to X% of total exports. Ghana (X cubic meters) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%) and Sierra Leone (X%).

Cote d'Ivoire was also the fastest-growing in terms of the fiber board of wood or other ligneous materials exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Sierra Leone (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest fiberboard supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

In Cote d'Ivoire, fiberboard exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, therefore, remained relatively stable against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fiberboard export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2019; however, from 2020 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 Sierra Leone ($X per cubic meter), while Nigeria ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, 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.

Fiberboard Imports

Imports in ECOWAS

In 2022, purchases abroad of fiber board of wood or other ligneous materials decreased by X% to X cubic meters, falling for the third consecutive year after five years of growth. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports hit record highs at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, fiberboard imports fell to $X in 2022. Over the period under review, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of about X cubic meters, which amounted to X% of total imports. It was distantly followed by Ghana (X cubic meters), Sierra Leone (X cubic meters), Liberia (X cubic meters), Guinea (X cubic meters), Senegal (X cubic meters), Cabo Verde (X cubic meters) and Gambia (X cubic meters), together generating a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Ghana (X%), Gambia (X%), Sierra Leone (X%), Guinea (X%), Cabo Verde (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana (X p.p.), Senegal (X p.p.), Sierra Leone (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported fiber board of wood or other ligneous materials in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, fiberboard imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per cubic meter, reducing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per cubic meter), while Liberia ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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