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

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

The West African market for wood residues, pellets and other agglomerates declined to $X in 2022, dropping by X% against the previous year. In general, consumption continues to indicate a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

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

In value terms, production of wood residues, pellets and other agglomerates totaled $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in overseas shipments of wood residues, pellets and other agglomerates, which increased by X% to X cubic meters in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, exports of wood residues, pellets and other agglomerates expanded rapidly to $X in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Nigeria was the major exporting country with an export of about X cubic meters, which resulted at X% of total exports. It was distantly followed by Benin (X cubic meters), generating a X% share of total exports. Cote d'Ivoire (X cubic meters) and Ghana (X cubic meters) followed a long way behind the leaders.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Cote d'Ivoire (X%) and Ghana (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. From 2012 to 2022, the share of Nigeria and Benin increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood residues, pellets and other agglomerates supplying countries in Western Africa were Benin ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports.

Benin, with a CAGR of X%, recorded the highest growth rate of 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, waning by X% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices remained at a 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 ($X per cubic meter), while Nigeria ($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 Residues, Pellets And Other Agglomerates

Imports in Western Africa

In 2022, the amount of wood residues, pellets and other agglomerates imported in Western Africa skyrocketed to X cubic meters, with an increase of X% compared with the previous year. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of wood residues, pellets and other agglomerates rose sharply to $X in 2022. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports of hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mauritania prevails in agglomerates structure, finishing at X cubic meters, which was near X% of total imports in 2022. Nigeria (X cubic meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%).

Mauritania was also the fastest-growing in terms of the wood residues, pellets and other agglomerates imports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritania increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X) constitutes the largest market for imported wood residues, pellets and other agglomerates in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports.

In Mauritania, imports of wood residues, pellets and other agglomerates increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per cubic meter, declining by X% against the previous year. Over the period under review, the import price recorded a abrupt slump. The growth pace was the most rapid in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs 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 ($X per cubic meter), while Mauritania ($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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