ECOWAS: Uncoated Felt Paper Market 2024

Uncoated Felt Paper Market Size in ECOWAS

After two years of decline, the ECOWAS uncoated felt paper market increased by 250% to $X in 2022. Overall, consumption saw a buoyant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Uncoated Felt Paper Production in ECOWAS

In value terms, uncoated felt paper production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Uncoated Felt Paper Exports

Exports in ECOWAS

In 2019, overseas shipments of uncoated felt paper and paperboard decreased by 0% to X tons, falling for the second year in a row after two years of decline. In general, exports posted significant growth. The smallest decline of 99.9% was in 2018. The volume of export peaked in 2019 and is expected to retain growth in the near future.

In value terms, uncoated felt paper exports amounted to $X in 2019. Over the period under review, exports continue to indicate a significant increase. The smallest decline of 99.9% was in 2018. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2019, the exports failed to regain momentum.

Exports by Country

In 2019, Cote d'Ivoire (X tons) represented the largest exporter of uncoated felt paper and paperboard in ECOWAS, generating 100% of total export.

Cote d'Ivoire was also the fastest-growing in terms of the uncoated felt paper and paperboard exports, with a CAGR of +645.4% from 2012 to 2019. Cote d'Ivoire (+99 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 Cote d'Ivoire, uncoated felt paper exports expanded at an average annual rate of +259.3% over the period from 2012-2019.

Export Prices by Country

In 2019, the export price in ECOWAS amounted to $X per ton, flattening at the previous year. Over the period under review, the export price continues to indicate a sharp slump. The pace of growth was the most pronounced in 2015 an increase of 3,207% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2019, the rate of growth in terms of prices for Cote d'Ivoire amounted to -51.8% per year.

Uncoated Felt Paper Imports

Imports in ECOWAS

In 2022, supplies from abroad of uncoated felt paper and paperboard increased by 227% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 585%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, uncoated felt paper imports skyrocketed to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 237% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria dominates imports structure, reaching X tons, which was near 90% of total imports in 2022. Ghana (X tons), Burkina Faso (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to uncoated felt paper imports into Nigeria stood at +11.8%. At the same time, Burkina Faso (+36.6%), Benin (+15.5%) and Ghana (+6.3%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +36.6% from 2012-2022. Nigeria (+22 p.p.) and Burkina Faso (+2.2 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 ($X) constitutes the largest market for imported uncoated felt paper and paperboard in ECOWAS, comprising 87% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 4% share of total imports. It was followed by Ghana, with a 3.1% share.

In Nigeria, uncoated felt paper imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+13.6% per year) and Ghana (+6.4% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, which is down by -37.4% against the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2021 when the import price increased by 73%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform