ECOWAS: Market for Wood Chips, Particles And Residues 2024

Market Size for Wood Chips, Particles And Residues in ECOWAS

After two years of decline, the ECOWAS market for wood chips, particles and residues increased by X% to $X in 2021. Over the period under review, consumption saw a prominent increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Wood Chips, Particles And Residues in ECOWAS

In value terms, wood chips, particles and residues production reduced dramatically to $X in 2021 estimated in export price. In general, production faced a sharp curtailment. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Wood Chips, Particles And Residues

Exports in ECOWAS

In 2021, wood chips, particles and residues exports in ECOWAS fell to X cubic meters, approximately equating 2020 figures. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X cubic meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood chips, particles and residues exports shrank to $X in 2021. Over the period under review, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Liberia (X cubic meters) was the largest exporter of wood chips, particles and residues, comprising X% of total exports. Nigeria (X cubic meters) held the second position in the ranking, followed by Senegal (X cubic meters). All these countries together took near X% share of total exports.

Exports from Liberia decreased at an average annual rate of X% from 2012 to 2021. At the same time, Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2021. From 2012 to 2021, the share of Liberia, Nigeria and Senegal increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Liberia ($X) remains the largest wood chips, particles and residues supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Liberia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per cubic meter, waning by X% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood chips, particles and residues export price decreased by X% against 2019 indices. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of export peaked at $X per cubic meter in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per cubic meter), while Senegal ($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 Liberia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Chips, Particles And Residues

Imports in ECOWAS

In 2021, purchases abroad of wood chips, particles and residues increased by X% to X cubic meters for the first time since 2013, thus ending a seven-year declining trend. Overall, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X cubic meters. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, wood chips, particles and residues imports declined notably to $X in 2021. Over the period under review, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of wood chips, particles and residues imports in 2021 were Mali (X cubic meters), Ghana (X cubic meters) and Nigeria (X cubic meters), together recording X% of total import. Cote d'Ivoire (X cubic meters) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Gambia (X%). Burkina Faso (X cubic meters) followed a long way behind the leaders.

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

In value terms, the largest wood chips, particles and residues importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Mali, Gambia and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Gambia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per cubic meter, with a decrease of X% against the previous year. Overall, the import price saw a pronounced shrinkage. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per cubic meter in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per cubic meter), while Burkina Faso ($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 Ghana (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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