ECOWAS: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2025

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ECOWAS

The ECOWAS market for wood chips, parts, residues, pellets and other agglomerates declined modestly to $X in 2021, reducing by -3.6% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -40.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Wood Chips, Parts, Residues, Pellets And Other Agglomerates in ECOWAS

In value terms, production of wood chips, parts, residues, pellets and other agglomerates declined slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 4.6%. As a result, production reached the peak level of $X. From 2017 to 2021, production of growth failed to regain momentum.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports in ECOWAS

In 2021, shipments abroad of wood chips, parts, residues, pellets and other agglomerates increased by 7.7% to X cubic meters, rising for the fourth year in a row after five years of decline. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2018 when exports increased by 32%. Over the period under review, the exports of hit record highs at X cubic meters in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates dropped slightly to $X in 2021. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ghana was the largest exporter of wood chips, parts, residues, pellets and other agglomerates in ECOWAS, with the volume of exports recording X cubic meters, which was approx. 51% of total exports in 2021. Nigeria (X cubic meters) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (11%), Liberia (11%) and Togo (5.9%). Benin (X cubic meters) followed a long way behind the leaders.

Exports from Ghana decreased at an average annual rate of -2.5% from 2012 to 2021. At the same time, Nigeria (+47.4%), Benin (+45.0%) and Togo (+30.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +47.4% from 2012-2021. By contrast, Gambia (-5.9%) and Liberia (-20.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Ghana, Togo and Benin increased by +15, +14, +5.6 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood chips, parts, residues, pellets and other agglomerates supplying countries in ECOWAS were Ghana ($X), Nigeria ($X) and Benin ($X), together comprising 75% of total exports.

Benin, with a CAGR of +47.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per cubic meter, with a decrease of -8.6% against the previous year. Overall, the export price recorded a pronounced setback. The pace of growth was the most pronounced in 2014 an increase of 17% against the previous year. The level of export peaked at $X per cubic meter in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per cubic meter), while Togo (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+1.9%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports in ECOWAS

Imports of wood chips, parts, residues, pellets and other agglomerates skyrocketed to X cubic meters in 2021, with an increase of 40% against 2020 figures. Over the period under review, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2019 when imports increased by 6,415%. As a result, imports reached the peak of X cubic meters. From 2020 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates skyrocketed to $X in 2021. Overall, imports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 2,106%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of wood chips, parts, residues, pellets and other agglomerates, namely Gambia, Mali and Ghana, represented more than two-thirds of total import. Niger (X cubic meters) held an 8.4% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (7.4%). Cabo Verde (X cubic meters) and Cote d'Ivoire (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +53.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Gambia ($X), Senegal ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, together accounting for 62% of total imports.

In terms of the main importing countries, Gambia, with a CAGR of +47.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2021, increasing by 7.2% against the previous year. Overall, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2020 an increase of 249% against the previous year. Over the period under review, import prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per cubic meter), while Ghana ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform