ECOWAS: Waferboard Market 2024

Waferboard Market Size in ECOWAS

After two years of growth, the ECOWAS waferboard market decreased by -8.5% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +22.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Waferboard Production in ECOWAS

In value terms, waferboard production reduced to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +18.5% against 2018 indices. The growth pace was the most rapid in 2014 when the production volume increased by 35%. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Waferboard Exports

Exports in ECOWAS

In 2021, overseas shipments of waferboards decreased by -30% to X cubic meters, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 876%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, waferboard exports reduced rapidly to $X in 2021. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 3,217% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X cubic meters) and Gambia (X cubic meters) prevails in exports structure, together making up 96% of total exports. Nigeria (X cubic meters) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of -6.3%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest waferboard supplier in ECOWAS, comprising 90% of total exports. The second position in the ranking was taken by Gambia ($X), with a 7.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled -8.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Gambia (-12.6% per year) and Nigeria (-9.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per cubic meter, falling by -20.8% against the previous year. Overall, the export price, however, continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2016 an increase of 240% against the previous year. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per cubic meter), while Gambia ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+4.8%), while the other leaders experienced a decline in the export price figures.

Waferboard Imports

Imports in ECOWAS

In 2021, the amount of waferboards imported in ECOWAS skyrocketed to X cubic meters, picking up by 109% compared with the previous year. Over the period under review, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, waferboard imports surged to $X in 2021. In general, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana (X cubic meters) and Cote d'Ivoire (X cubic meters) prevails in imports structure, together achieving 73% of total imports. Nigeria (X cubic meters) ranks next in terms of the total imports with a 7% share, followed by Guinea (6.4%), Cabo Verde (5.7%) and Senegal (4.7%).

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +58.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2021, together comprising 76% of total imports.

Ghana, with a CAGR of +52.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per cubic meter, with an increase of 3.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 15%. The level of import peaked at $X per cubic meter in 2014; however, from 2015 to 2021, 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 Senegal ($X per cubic meter), while Ghana ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform