Western Africa: Wood Flat Pallet Market 2024

Wood Flat Pallet Market Size in Western Africa

The West African wood flat pallet market contracted slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Wood Flat Pallet Production in Western Africa

In value terms, wood flat pallet production fell modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Wood Flat Pallet Exports

Exports in Western Africa

In 2022, shipments abroad of flat pallets and pallet collars of wood increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted significant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, wood flat pallet exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Cote d'Ivoire represented the largest exporter of flat pallets and pallet collars of wood in Western Africa, with the volume of exports reaching X units, which was approx. X% of total exports in 2022. Togo (X units) held the second position in the ranking, distantly followed by Senegal (X units) and Nigeria (X units). All these countries together took near X% share of total exports. Benin (X units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wood flat pallet exports from Cote d'Ivoire stood at X%. At the same time, Nigeria (X%), Senegal (X%) and Togo (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) illustrated a downward trend over the same period. Togo (X p.p.), Senegal (X p.p.), Nigeria (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest wood flat pallet supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, rising by X% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price 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, wood flat pallet export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Benin ($X per unit) and Togo ($X per unit), while Nigeria ($X per unit) and Senegal ($X per unit) were 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 more modest paces of growth.

Wood Flat Pallet Imports

Imports in Western Africa

In 2022, approx. X units of flat pallets and pallet collars of wood were imported in Western Africa; jumping by X% against 2021 figures. In general, imports continue to indicate buoyant growth. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, wood flat pallet imports soared to $X in 2022. Overall, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Cote d'Ivoire (X units) represented the largest importer of flat pallets and pallet collars of wood, achieving X% of total imports. Senegal (X units) ranks second in terms of the total imports with an X% share, followed by Cabo Verde (X%) and Nigeria (X%). Togo (X units) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wood flat pallet imports into Cote d'Ivoire stood at X%. At the same time, Togo (X%), Senegal (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cabo Verde (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported flat pallets and pallet collars of wood in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Cote d'Ivoire, wood flat pallet imports expanded 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

The import price in Western Africa stood at $X per unit in 2022, surging by X% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price 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, wood flat pallet import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Cote d'Ivoire ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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