ECOWAS: Sulphite Wood Pulp Market 2024

Sulphite Wood Pulp Market Size in ECOWAS

The ECOWAS sulphite wood pulp market declined to $X in 2021, reducing by -7.6% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sulphite Wood Pulp Production in ECOWAS

In value terms, sulphite wood pulp production contracted to $X in 2021 estimated in export price. Over the period under review, production recorded a mild descent. The growth pace was the most rapid in 2016 with an increase of 21%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Sulphite Wood Pulp Exports

Exports in ECOWAS

In 2021, shipments abroad of chemical wood pulp (sulphite, other than dissolving grades) decreased by 0% to X kg, falling for the second consecutive year after three years of decline. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 6,488% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, sulphite wood pulp exports stood at $X in 2021. Over the period under review, exports showed a measured expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 4,031% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, dropping by -47.6% against the previous year. Over the period under review, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2017 when the export price increased by 328% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Burkina Faso stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+7.6%).

Sulphite Wood Pulp Imports

Imports in ECOWAS

In 2021, purchases abroad of chemical wood pulp (sulphite, other than dissolving grades) increased by 16% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 316% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sulphite wood pulp imports skyrocketed to $X in 2021. Overall, imports, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2017 with an increase of 331%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the key importer of chemical wood pulp (sulphite, other than dissolving grades) in ECOWAS, with the volume of imports amounting to X tons, which was near 41% of total imports in 2021. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a 17% share, followed by Senegal (17%), Guinea (8.4%), Mali (6.9%) and Burkina Faso (4.7%).

Imports into Nigeria decreased at an average annual rate of -12.5% from 2012 to 2021. At the same time, Mali (+61.0%), Guinea (+40.6%) and Burkina Faso (+29.3%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +61.0% from 2012-2021. By contrast, Senegal (-3.8%) and Cote d'Ivoire (-13.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Guinea, Mali, Senegal and Burkina Faso increased by +8.2, +6.9, +6.4 and +4.5 percentage points, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported chemical wood pulp (sulphite, other than dissolving grades) in ECOWAS, comprising 45% of total imports. The second position in the ranking was held by Nigeria ($X), with a 16% share of total imports. It was followed by Guinea, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to +2.8%. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (-15.4% per year) and Guinea (+40.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, jumping by 19% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sulphite wood pulp import price increased by +104.6% against 2016 indices. The growth pace was the most rapid in 2020 when the import price increased by 33%. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+6.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform