Africa: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Africa

In 2021, the African machine-tool for working wood market increased by 1.5% to $X, rising for the sixth year in a row after three years of decline. Over the period under review, consumption, however, posted a buoyant expansion. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Machine-Tools For Working Wood in Africa

In value terms, machine-tool for working wood production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2016 with an increase of 71%. The level of production peaked at $X in 2020, and then fell modestly in the following year.

Exports of Machine-Tools For Working Wood

Exports in Africa

In 2021, the amount of machine-tools for working wood exported in Africa surged to X tons, rising by 29% compared with the previous year's figure. Overall, exports, however, recorded a abrupt decrease. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working wood exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2018 with an increase of 37% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Africa represented the main exporting country with an export of about X tons, which reached 57% of total exports. Morocco (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Tunisia (5.6%). Mozambique (X tons), Ghana (X tons), Kenya (X tons), Egypt (X tons), Rwanda (X tons) and Uganda (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working wood exports from South Africa stood at -11.0%. At the same time, Ghana (+13.5%), Rwanda (+6.7%), Uganda (+5.1%) and Mozambique (+2.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Africa, with a CAGR of +13.5% from 2012-2021. Morocco experienced a relatively flat trend pattern. By contrast, Egypt (-9.7%), Tunisia (-10.2%) and Kenya (-10.5%) illustrated a downward trend over the same period. Morocco (+9.9 p.p.), Ghana (+2.5 p.p.), Mozambique (+2 p.p.) and Rwanda (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by -11% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest machine-tool for working wood supplier in Africa, comprising 67% of total exports. The second position in the ranking was held by Morocco ($X), with a 13% share of total exports. It was followed by Tunisia, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to -4.5%. In the other countries, the average annual rates were as follows: Morocco (-2.5% per year) and Tunisia (-10.6% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, shrinking by -10.3% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working wood export price increased by +6.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 54%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Rwanda (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports in Africa

In 2021, after four years of growth, there was decline in supplies from abroad of machine-tools for working wood, when their volume decreased by -2.8% to X tons. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 72% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, machine-tool for working wood imports expanded remarkably to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.7% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 18%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was near 67% of total imports in 2021. It was distantly followed by Egypt (X tons), comprising a 5.7% share of total imports. The following importers - Algeria (X tons), Morocco (X tons), South Africa (X tons), Ghana (X tons), Tanzania (X tons), Cote d'Ivoire (X tons) and Cameroon (X tons) - together made up 16% of total imports.

Nigeria was also the fastest-growing in terms of the machine-tools for working wood imports, with a CAGR of +45.0% from 2012 to 2021. At the same time, Egypt (+23.1%), Cote d'Ivoire (+15.4%), Cameroon (+10.4%), Tanzania (+7.1%), Ghana (+6.4%) and Morocco (+3.5%) displayed positive paces of growth. By contrast, Algeria (-1.3%) and South Africa (-11.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Egypt increased by +60 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Egypt ($X) and South Africa ($X) constituted the countries with the highest levels of imports in 2021, with a combined 62% share of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of +35.3%, 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

The import price in Africa stood at $X per ton in 2021, growing by 18% against the previous year. Overall, the import price, however, saw a abrupt downturn. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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