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

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

For the third consecutive year, the West African 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 a pronounced increase 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 attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

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

In value terms, production of wood chips, parts, residues, pellets and other agglomerates stood at $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production of growth remained at a somewhat lower figure.

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

Exports in Western Africa

In 2022, shipments abroad of wood chips, parts, residues, pellets and other agglomerates increased by X% to X cubic meters, rising for the fifth consecutive year after five years of decline. Overall, exports, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. 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 amounted to $X in 2022. Over the period under review, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana was the main exporting country with an export of about X cubic meters, which finished at X% of total exports. It was distantly followed by Nigeria (X cubic meters), Liberia (X cubic meters), Gambia (X cubic meters), Togo (X cubic meters) and Benin (X cubic meters), together creating a X% share of total exports.

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 Western Africa, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) and Liberia (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Nigeria (X p.p.), Togo (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Liberia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood chips, parts, residues, pellets and other agglomerates supplying countries in Western Africa were Ghana ($X), Benin ($X) and Nigeria ($X), together comprising X% of total exports.

Benin, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 Western Africa stood at $X per cubic meter in 2022, shrinking by X% against the previous year. In general, the export price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2016; however, from 2017 to 2022, the export prices stood 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 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 Western Africa

In 2022, the amount of wood chips, parts, residues, pellets and other agglomerates imported in Western Africa expanded modestly to X cubic meters, with an increase of X% compared with 2021 figures. Over the period under review, imports, however, showed a pronounced slump. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X cubic meters. From 2020 to 2022, the growth of imports of remained at a somewhat lower figure.

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

Imports by Country

Mauritania represented the key importing country with an import of around X cubic meters, which finished at X% of total imports. Gambia (X cubic meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Senegal (X%) and Niger (X%). Nigeria (X cubic meters) and Cabo Verde (X cubic meters) held a little share of total imports.

From 2012 to 2022, 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, Mauritania ($X) constitutes the largest market for imported wood chips, parts, residues, pellets and other agglomerates in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Gambia, with a X% share.

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

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. 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.

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 Senegal ($X per cubic meter), while Ghana ($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 Mauritania (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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