ECOWAS: Wood-Based Panels Market 2025

Wood-Based Panels Market Size in ECOWAS

The ECOWAS wood-based panels market was estimated at $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Wood-Based Panels Production in ECOWAS

In value terms, wood-based panels production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Wood-Based Panels Exports

Exports in ECOWAS

In 2022, overseas shipments of wood-based panels increased by X% to X cubic meters, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, wood-based panels exports expanded slightly to $X in 2022. In general, exports, however, continue to indicate a pronounced setback. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the major exporter of wood-based panels in ECOWAS, with the volume of exports reaching X cubic meters, which was approx. X% of total exports in 2022. It was distantly followed by Ghana (X cubic meters), generating a X% share of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of wood-based panels. Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire increased by X percentage points.

In value terms, the largest wood-based panels supplying countries in ECOWAS were Cote d'Ivoire ($X) and Ghana ($X).

Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, falling by X% against the previous year. Over the period under review, the export price saw a mild slump. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per cubic meter), while Cote d'Ivoire totaled $X per cubic meter.

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

Wood-Based Panels Imports

Imports in ECOWAS

Wood-based panels imports was estimated at X cubic meters in 2022, growing by X% on 2021. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X cubic meters. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wood-based panels imports reached $X in 2022. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the largest importing country with an import of about X cubic meters, which finished at X% of total imports. It was distantly followed by Ghana (X cubic meters), Senegal (X cubic meters) and Niger (X cubic meters), together achieving a X% share of total imports. Burkina Faso (X cubic meters), Guinea (X cubic meters), Cote d'Ivoire (X cubic meters), Gambia (X cubic meters), Liberia (X cubic meters) and Sierra Leone (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood-based panels imports into Nigeria stood at X%. At the same time, Ghana (X%), Cote d'Ivoire (X%), Gambia (X%), Guinea (X%), Niger (X%), Senegal (X%), Sierra Leone (X%), Liberia (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Ghana (X p.p.), Cote d'Ivoire (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Liberia (X p.p.) and Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported wood-based panels in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, wood-based panels imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per cubic meter, with a decrease of X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Guinea ($X per cubic meter), while Burkina Faso ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform