ECOWAS: Wood Flat Pallet Market 2025

Wood Flat Pallet Market Size in ECOWAS

In 2021, the ECOWAS wood flat pallet market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Wood Flat Pallet Production in ECOWAS

In value terms, wood flat pallet production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 30%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Wood Flat Pallet Exports

Exports in ECOWAS

In 2021, shipments abroad of flat pallets and pallet collars of wood decreased by -68.9% to X units, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2014 when exports increased by 752%. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, wood flat pallet exports plummeted to $X in 2021. Overall, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 807%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal was the major exporter of flat pallets and pallet collars of wood in ECOWAS, with the volume of exports recording X units, which was near 71% of total exports in 2021. It was distantly followed by Togo (X units) and Benin (X units), together making up a 29% share of total exports.

Senegal was also the fastest-growing in terms of the flat pallets and pallet collars of wood exports, with a CAGR of +40.4% from 2012 to 2021. At the same time, Togo (+10.7%) displayed positive paces of growth. By contrast, Benin (-22.6%) illustrated a downward trend over the same period. Senegal (+67 p.p.), Benin (+10 p.p.) and Togo (+8.2 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, Senegal ($X) emerged as the largest wood flat pallet supplier in ECOWAS, comprising 71% of total exports. The second position in the ranking was taken by Togo ($X), with an 18% share of total exports.

In Senegal, wood flat pallet exports expanded at an average annual rate of +42.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (+12.4% per year) and Benin (-17.2% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, rising by 32% against the previous year. Overall, the export price recorded a modest expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by 117% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+7.0%), while the other leaders experienced more modest paces of growth.

Wood Flat Pallet Imports

Imports in ECOWAS

In 2021, the amount of flat pallets and pallet collars of wood imported in ECOWAS shrank dramatically to X units, with a decrease of -77.1% compared with the year before. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 258%. As a result, imports reached the peak of X units, and then declined significantly in the following year.

In value terms, wood flat pallet imports dropped rapidly to $X in 2021. Overall, imports recorded a slight reduction. The pace of growth appeared the most rapid in 2020 with an increase of 209% against the previous year. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

Gambia (X units) and Senegal (X units) were the key importers of flat pallets and pallet collars of wood in 2021, reaching near 42% and 30% of total imports, respectively. Nigeria (X units) held the next position in the ranking, distantly followed by Burkina Faso (X units) and Togo (X units). All these countries together held near 25% share of total imports. Benin (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +138.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) constitutes the largest market for imported flat pallets and pallet collars of wood in ECOWAS, comprising 51% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 26% share of total imports. It was followed by Burkina Faso, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +9.8%. In the other countries, the average annual rates were as follows: Nigeria (-6.1% per year) and Burkina Faso (+4.1% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, declining by -22% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 an increase of 187%. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Benin ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform