ECOWAS: Market for Wood Pulp, Excluding Mechanical Wood Pulp 2024

Market Size for Wood Pulp, Excluding Mechanical Wood Pulp in ECOWAS

For the third consecutive year, the ECOWAS market for wood pulp, excluding mechanical wood pulp recorded growth in sales value, which increased by 33% to $X in 2022. In general, consumption posted a buoyant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Wood Pulp, Excluding Mechanical Wood Pulp in ECOWAS

In value terms, production of wood pulp, excluding mechanical wood pulp surged to $X in 2022 estimated in export price. Overall, production recorded resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 319% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Wood Pulp, Excluding Mechanical Wood Pulp

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in shipments abroad of wood pulp, excluding mechanical wood pulp, which decreased by -66.9% to X kg in 2022. In general, exports faced a significant curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 3,582,471%. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of wood pulp, excluding mechanical wood pulp shrank sharply to $X in 2022. Over the period under review, exports continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2019 with an increase of 252,492%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

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

From 2012 to 2022, average annual rates of growth with regard to wood pulp, excluding mechanical wood pulp exports from Ghana stood at -44.3%. 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. Ghana (+74 p.p.) and Mali (+23 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 value terms, Ghana ($X) emerged as the largest wood pulp, excluding mechanical wood pulp supplier in ECOWAS, comprising 71% of total exports. The second position in the ranking was held by Mali ($X), with a 29% share of total exports.

In Ghana, exports of wood pulp, excluding mechanical wood pulp declined by an average annual rate of -38.8% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with an increase of 30% against the previous year. Overall, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 353% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+9.9%).

Imports of Wood Pulp, Excluding Mechanical Wood Pulp

Imports in ECOWAS

For the seventh consecutive year, ECOWAS recorded growth in supplies from abroad of wood pulp, excluding mechanical wood pulp, which increased by 19% to X tons in 2022. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 78% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of wood pulp, excluding mechanical wood pulp skyrocketed to $X in 2022. In general, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 71%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria represented the major importing country with an import of around X tons, which recorded 64% of total imports. Ghana (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (6.9%) and Senegal (5.9%).

Imports into Nigeria increased at an average annual rate of +15.8% from 2012 to 2022. At the same time, Senegal (+27.3%), Ghana (+27.0%) and Cote d'Ivoire (+17.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +27.3% from 2012-2022. Ghana (+11 p.p.) and Senegal (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -14.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported wood pulp, excluding mechanical wood pulp in ECOWAS, comprising 74% of total imports. The second position in the ranking was held by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +17.2%. In the other countries, the average annual rates were as follows: Ghana (+27.1% per year) and Cote d'Ivoire (+18.4% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, growing by 16% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 38% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform