ECOWAS: Solid Biofuel Market 2024

Solid Biofuel Market Size in ECOWAS

The ECOWAS solid biofuel market stood at $X in 2022, approximately mirroring the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Solid Biofuel Production in ECOWAS

In value terms, solid biofuel production rose modestly to $X in 2022 estimated in export price. In general, production, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Solid Biofuel Exports

Exports in ECOWAS

In 2022, solid biofuel exports in ECOWAS contracted to X tons, which is down by X% against 2021 figures. Over the period under review, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, solid biofuel exports contracted markedly to $X in 2022. In general, exports faced a abrupt descent. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together generating X% of total exports. It was distantly followed by Gambia (X tons), creating a X% share of total exports. Nigeria (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Gambia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Gambia, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price recorded a pronounced slump. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

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

Solid Biofuel Imports

Imports in ECOWAS

In 2022, overseas purchases of solid biofuels increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, solid biofuel imports skyrocketed to $X in 2022. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Senegal (X tons) was the main importer of solid biofuels, creating X% of total imports. It was distantly followed by Niger (X tons) and Gambia (X tons), together creating a X% share of total imports. Togo (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the solid biofuels imports, with a CAGR of X% from 2012 to 2022. At the same time, Niger (X%) and Gambia (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total imports, while Gambia and Togo saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported solid biofuels in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Togo ($X), with a X% share of total imports. It was followed by Gambia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Togo (X% per year) and Gambia (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price saw a strong expansion. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :