ECOWAS: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ECOWAS

For the third year in a row, the ECOWAS market for wood chips, parts, residues, pellets and other agglomerates recorded decline in sales value, which decreased by X% to $X in 2022. The total consumption indicated pronounced growth 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ECOWAS

In value terms, production of wood chips, parts, residues, pellets and other agglomerates totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production of growth remained at a lower figure.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports in ECOWAS

In 2022, overseas shipments of wood chips, parts, residues, pellets and other agglomerates increased by X% to X cubic meters, rising for the fifth year in a row after five years of decline. Over the period under review, exports, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates expanded significantly to $X in 2022. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X cubic meters) represented the main exporter of wood chips, parts, residues, pellets and other agglomerates, mixing up X% of total exports. Nigeria (X cubic meters) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Liberia (X%), Gambia (X%), Togo (X%) and Benin (X%).

Ghana experienced a relatively flat trend pattern with regard to volume of exports of wood chips, parts, residues, pellets and other agglomerates. At the same time, Benin (X%), Nigeria (X%) and Togo (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) and Liberia (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Nigeria (X p.p.), Togo (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Liberia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Benin ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Benin, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, which is down by X% against the previous year. Overall, the export price recorded a perceptible setback. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2016; however, from 2017 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 Benin ($X per cubic meter), while Togo (less than $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 Benin (X%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports in ECOWAS

In 2022, the amount of wood chips, parts, residues, pellets and other agglomerates imported in ECOWAS dropped modestly to X cubic meters, waning by X% compared with the year before. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of X cubic meters. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates stood at $X in 2022. Overall, imports showed a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Gambia (X cubic meters) and Ghana (X cubic meters) represented roughly X% of total imports in 2022. Senegal (X cubic meters) ranks next in terms of the total imports with a X% share, followed by Niger (X%) and Nigeria (X%). The following importers - Cabo Verde (X cubic meters) and Cote d'Ivoire (X cubic meters) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Gambia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Gambia ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Gambia, with a CAGR of X%, saw 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

The import price in ECOWAS stood at $X per cubic meter in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of import peaked at $X per cubic meter in 2012; however, from 2013 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 Cote d'Ivoire ($X per cubic meter), while Ghana ($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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