ECOWAS: Market for Wood Chips And Particles 2025

Market Size for Wood Chips And Particles in ECOWAS

In 2022, the ECOWAS wood chips and particles market decreased by -1.6% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed a resilient increase. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Wood Chips And Particles in ECOWAS

In value terms, wood chips and particles production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by 8.9% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Wood Chips And Particles

Exports in ECOWAS

In 2022, overseas shipments of wood chips and particles increased by 15% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 109%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood chips and particles exports amounted to $X in 2022. Over the period under review, exports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 48%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Gambia was the major exporting country with an export of about X cubic meters, which reached 67% of total exports. It was distantly followed by Liberia (X cubic meters), comprising a 32% share of total exports.

Gambia was also the fastest-growing in terms of the wood chips and particles exports, with a CAGR of -3.4% from 2012 to 2022. Liberia (-18.1%) illustrated a downward trend over the same period. Gambia (+47 p.p.) significantly strengthened its position in terms of the total exports, while Liberia saw its share reduced by -17.3% from 2012 to 2022, respectively.

In value terms, Gambia ($X) and Liberia ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Gambia, with a CAGR of -10.4%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per cubic meter, declining by -3.3% against the previous year. Over the period under review, the export price recorded a perceptible descent. The pace of growth appeared the most rapid in 2014 an increase of 22% against the previous year. The level of export peaked at $X per cubic meter in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Liberia ($X per cubic meter), while Gambia totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (-0.9%).

Imports of Wood Chips And Particles

Imports in ECOWAS

In 2022, imports of wood chips and particles in ECOWAS contracted sharply to X cubic meters, which is down by -20.8% on 2021 figures. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 99% against the previous year. Over the period under review, imports attained the peak figure at X cubic meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wood chips and particles imports reduced markedly to $X in 2022. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 166% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria represented the key importer of wood chips and particles in ECOWAS, with the volume of imports recording X cubic meters, which was near 49% of total imports in 2022. Gambia (X cubic meters) ranks second in terms of the total imports with a 30% share, followed by Niger (14%). Cote d'Ivoire (X cubic meters) and Ghana (X cubic meters) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +52.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X) constitutes the largest market for imported wood chips and particles in ECOWAS, comprising 47% of total imports. The second position in the ranking was taken by Gambia ($X), with an 18% share of total imports. It was followed by Cote d'Ivoire, with a 15% share.

In Nigeria, wood chips and particles imports plunged by an average annual rate of -22.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Gambia (+23.4% per year) and Cote d'Ivoire (-15.9% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per cubic meter, waning by -15.2% against the previous year. Overall, the import price saw a pronounced reduction. The growth pace was the most rapid in 2018 an increase of 49% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2019 to 2022, the 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 Cote d'Ivoire ($X per cubic meter), while Gambia ($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 Ghana (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform