ECOWAS: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in ECOWAS

The ECOWAS market for wood residues, pellets and other agglomerates contracted to $X in 2022, declining by X% against the previous year. In general, consumption saw a noticeable decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Wood Residues, Pellets And Other Agglomerates in ECOWAS

In value terms, production of wood residues, pellets and other agglomerates reached $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a somewhat lower figure.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in ECOWAS

In 2022, exports of wood residues, pellets and other agglomerates in ECOWAS rose significantly to X cubic meters, with an increase of X% on 2021 figures. Over the period under review, 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 likely to see steady growth in the near future.

In value terms, exports of wood residues, pellets and other agglomerates expanded markedly to $X in 2022. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Nigeria (X cubic meters) represented the key exporter of wood residues, pellets and other agglomerates, making up X% of total exports. It was distantly followed by Benin (X cubic meters), creating 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 ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports 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, Benin ($X), Nigeria ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Benin, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The export price in ECOWAS stood at $X per cubic meter in 2022, which is down by X% against the previous year. In general, the export price showed a deep downturn. The growth pace was the most rapid in 2017 when the export price increased by X%. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 ECOWAS

In 2022, imports of wood residues, pellets and other agglomerates in ECOWAS expanded sharply to X cubic meters, increasing by X% compared with the previous year's figure. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X cubic meters. From 2015 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of wood residues, pellets and other agglomerates rose to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Nigeria (X cubic meters) and Senegal (X cubic meters) prevails in agglomerates structure, together comprising X% of total imports. It was distantly followed by Ghana (X cubic meters), mixing up a X% share of total imports. Niger (X cubic meters) and Benin (X cubic meters) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Niger and Benin lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Niger, with a CAGR of X%, saw the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per cubic meter, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per cubic meter in 2019; however, from 2020 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 Niger ($X per cubic meter), while Benin ($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 Niger (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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