Western Africa: Fibreboard Market 2024

Fibreboard Market Size in Western Africa

The West African fibreboard market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a noticeable downturn. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Fibreboard Production in Western Africa

In value terms, fibreboard production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Fibreboard Exports

Exports in Western Africa

In 2022, after two years of decline, there was significant growth in overseas shipments of fibreboard, when their volume increased by X% to X cubic meters. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, fibreboard exports declined to $X in 2022. Overall, exports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X cubic meters) and Senegal (X cubic meters) prevails in exports structure, together generating X% of total exports. Mauritania (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mauritania (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X) remains the largest fibreboard supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Mauritania ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Mauritania (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per cubic meter, falling by X% against the previous year. Overall, the export price saw a slight reduction. The growth pace was the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per cubic meter. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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 Mauritania ($X per cubic meter), while Senegal ($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 Mauritania (X%), while the other leaders experienced mixed trends in the export price figures.

Fibreboard Imports

Imports in Western Africa

In 2022, purchases abroad of fibreboard decreased by X% to X cubic meters, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, recorded tangible growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, fibreboard imports shrank modestly to $X in 2022. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the largest importing country with an import of about X cubic meters, which recorded X% of total imports. Ghana (X cubic meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Liberia (X%), Sierra Leone (X%), Gambia (X%), Guinea (X%) and Cabo Verde (X%).

From 2012 to 2022, average annual rates of growth with regard to fibreboard imports into Nigeria stood at X%. At the same time, Senegal (X%), Ghana (X%), Gambia (X%), Sierra Leone (X%), Liberia (X%), Guinea (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Ghana (X p.p.), Senegal (X p.p.), Gambia (X p.p.), Sierra Leone (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported fibreboard in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2022, picking up by X% against the previous year. Over the period under review, the import price recorded a modest expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cabo Verde ($X per cubic meter), while Sierra Leone ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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