ECOWAS: Market for Wood Pellets And Other Agglomerates 2024

Market Size for Wood Pellets And Other Agglomerates in ECOWAS

The ECOWAS market for wood pellets and other agglomerates dropped sharply to $X in 2022, declining by X% against the previous year. Overall, consumption, however, faced a drastic downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Wood Pellets And Other Agglomerates in ECOWAS

In value terms, wood pellets and other agglomerates production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Wood Pellets And Other Agglomerates

Exports in ECOWAS

In 2022, shipments abroad of wood pellets and other agglomerates decreased by X% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood pellets and other agglomerates exports dropped to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Benin (X tons) was the key exporter of wood pellets and other agglomerates, constituting X% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%).

Exports from Benin increased at an average annual rate of X% from 2012 to 2022. At the same time, Nigeria (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Benin (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Benin ($X) remains the largest wood pellets and other agglomerates supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Benin amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price showed a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

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

Imports of Wood Pellets And Other Agglomerates

Imports in ECOWAS

In 2022, after three years of decline, there was significant growth in purchases abroad of wood pellets and other agglomerates, when their volume increased by X% to X tons. Over the period under review, imports enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, wood pellets and other agglomerates imports surged to $X in 2022. Overall, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the main importer of wood pellets and other agglomerates in ECOWAS, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Mali (X%) and Senegal (X%). Cote d'Ivoire (X tons), Niger (X tons) and Benin (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Niger (X%), Benin (X%) and Mali (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Senegal (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood pellets and other agglomerates importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of 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 ton in 2022, growing by X% against the previous year. Overall, the import price saw a buoyant increase. The pace of growth was the most pronounced in 2013 an increase of X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, 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 Cote d'Ivoire ($X per ton), while Mali ($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 more modest paces of growth.

Source: IndexBox Platform

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