ECOWAS: Assembled Parquet Panels Market 2024

Assembled Parquet Panels Market Size in ECOWAS

In 2021, the ECOWAS assembled parquet panels market decreased by -4.3% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.7% against 2017 indices. Over the period under review, the market attained the peak level at $X in 2020, and then reduced slightly in the following year.

Assembled Parquet Panels Production in ECOWAS

In value terms, assembled parquet panels production shrank to $X in 2021 estimated in export price. Overall, production posted buoyant growth. The growth pace was the most rapid in 2013 when the production volume increased by 47% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Assembled Parquet Panels Exports

Exports in ECOWAS

In 2021, overseas shipments of assembled parquet panels increased by 13% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a deep slump. The pace of growth was the most pronounced in 2014 with an increase of 117% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, assembled parquet panels exports skyrocketed to $X in 2021. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of 1,047% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire represented the largest exporting country with an export of around X tons, which recorded 63% of total exports. Benin (X tons) took the second position in the ranking, distantly followed by Ghana (X tons). All these countries together took approx. 35% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to assembled parquet panels exports from Cote d'Ivoire stood at -9.5%. At the same time, Benin (+9.5%) and Ghana (+5.4%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +9.5% from 2012-2021. From 2012 to 2021, the share of Benin and Ghana increased by +23 and +8.8 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest assembled parquet panels supplier in ECOWAS, comprising 63% of total exports. The second position in the ranking was held by Ghana ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire amounted to -8.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+12.4% per year) and Benin (+3.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, growing by 78% against the previous year. Over the period under review, the export price showed a mild increase. The most prominent rate of growth was recorded in 2019 an increase of 1,974% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.6%), while the other leaders experienced mixed trends in the export price figures.

Assembled Parquet Panels Imports

Imports in ECOWAS

Assembled parquet panels imports skyrocketed to X tons in 2021, growing by 29% on the previous year. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% 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 +36.9% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 29% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, assembled parquet panels imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 52%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of assembled parquet panels, namely Nigeria, Ghana and Senegal, represented more than half of total import. Cabo Verde (X tons) took the next position in the ranking, followed by Niger (X tons) and Cote d'Ivoire (X tons). All these countries together took approx. 24% share of total imports. Gambia (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +106.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of imports in 2021, together accounting for 60% of total imports. These countries were followed by Cote d'Ivoire, Cabo Verde, Niger and Gambia, which together accounted for a further 30%.

Gambia, with a CAGR of +91.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, approximately mirroring the previous year. Overall, the import price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2015 when the import price increased by 52%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform