ECOWAS: Semi-Chemical Wood Pulp Market 2024

Semi-Chemical Wood Pulp Market Size in ECOWAS

The ECOWAS semi-chemical wood pulp market skyrocketed to $X in 2022, with an increase of 37% against the previous year. Over the period under review, consumption recorded a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the near future.

Semi-Chemical Wood Pulp Production in ECOWAS

In value terms, semi-chemical wood pulp production soared to $X in 2022 estimated in export price. Over the period under review, production showed buoyant growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 450% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Semi-Chemical Wood Pulp Exports

Exports in ECOWAS

For the seventh consecutive year, ECOWAS recorded growth in overseas shipments of semi-chemical wood pulp, which increased by 258% to X kg in 2022. In general, exports, however, showed a sharp decline. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, semi-chemical wood pulp exports surged to $X in 2022. Overall, exports, however, showed a dramatic decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X kg) was the main exporter of semi-chemical wood pulp, committing 77% of total exports. It was distantly followed by Mali (X kg), comprising a 23% share of total exports.

Exports from Ghana decreased at an average annual rate of -32.2% from 2012 to 2022. At the same time, Mali (+21.0%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +21.0% from 2012-2022. Mali (+23 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -22.9% from 2012 to 2022, respectively.

In value terms, Ghana ($X) emerged as the largest semi-chemical wood pulp supplier in ECOWAS, comprising 71% of total exports. The second position in the ranking was taken by Mali ($X), with a 29% share of total exports.

In Ghana, semi-chemical wood pulp exports shrank by an average annual rate of -29.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by -20.8% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-chemical wood pulp export price decreased by -31.4% against 2020 indices. The pace of growth was the most pronounced in 2015 when the export price increased by 66% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Ghana amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.3%).

Semi-Chemical Wood Pulp Imports

Imports in ECOWAS

For the third year in a row, ECOWAS recorded growth in overseas purchases of semi-chemical wood pulp, which increased by 51% to X tons in 2022. Over the period under review, imports saw a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 475% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, semi-chemical wood pulp imports soared to $X in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 389% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The purchases of the one major importers of semi-chemical wood pulp, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the semi-chemical wood pulp imports, with a CAGR of +19.1% from 2012 to 2022. Nigeria (+6.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported semi-chemical wood pulp in ECOWAS.

In Nigeria, semi-chemical wood pulp imports expanded at an average annual rate of +26.8% over the period from 2012-2022.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by 49% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 50%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +6.4% per year.

Source: IndexBox Platform