ECOWAS: Wood Residues Market 2024

Wood Residues Market Size in ECOWAS

In 2020, the ECOWAS wood residues market decreased by X% to $X, falling for the second consecutive year after seven years of growth. In general, consumption enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2019 to 2020, the growth of the market failed to regain momentum.

Wood Residues Production in ECOWAS

In value terms, wood residues production reduced to $X in 2020 estimated in export price. Overall, production saw a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2020, production growth failed to regain momentum.

Wood Residues Exports

Exports in ECOWAS

In 2020, overseas shipments of wood residues decreased by X% to X cubic meters, falling for the second year in a row after three years of growth. Overall, exports saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 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 2020, the exports failed to regain momentum.

In value terms, wood residues exports fell to $X in 2020. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2020, the growth of the exports failed to regain momentum.

Exports by Country

In 2020, Togo (X cubic meters), distantly followed by Mali (X cubic meters), Benin (X cubic meters), Cote d'Ivoire (X cubic meters), Gambia (X cubic meters) and Ghana (X cubic meters) were the key exporters of wood residues, together mixing up X% of total exports. Nigeria (X cubic meters) followed a long way behind the leaders.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mali (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Ghana ($X) and Benin ($X) constituted the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Among the main exporting countries, Mali, with a CAGR of X%, recorded the highest growth rate of 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 2020, the export price in ECOWAS amounted to $X per cubic meter, declining by X% against the previous year. Export price indicated temperate growth from 2012 to 2020: its price increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, wood residues export price decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2019 to 2020, the export prices remained at a lower figure.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Wood Residues Imports

Imports in ECOWAS

In 2020, the amount of wood residues imported in ECOWAS dropped modestly to X cubic meters, approximately mirroring 2019 figures. Overall, imports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X cubic meters in 2013; however, from 2014 to 2020, imports failed to regain momentum.

In value terms, wood residues imports rose slightly to $X in 2020. The total import value increased at an average annual rate of X% from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked in 2020 and is likely to continue growth in years to come.

Imports by Country

The countries with the highest levels of wood residues imports in 2020 were Sierra Leone (X cubic meters), Nigeria (X cubic meters), Benin (X cubic meters), Guinea-Bissau (X cubic meters), Cabo Verde (X cubic meters), Guinea (X cubic meters) and Mali (X cubic meters), together reaching X% of total import.

From 2012 to 2020, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guinea-Bissau ($X), Mali ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2020, with a combined X% share of total imports.

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

Import Prices by Country

In 2020, the import price in ECOWAS amounted to $X per cubic meter, surging by X% against the previous year. Import price indicated a strong increase from 2012 to 2020: its price increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, wood residues import price increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs in 2020 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2020, amid the top importers, the country with the highest price was Mali ($X per cubic meter), while Benin ($X per cubic meter) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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