Ghana: Particle Board Market 2025

Particle Board Market Size in Ghana

After two years of growth, the Ghanian particle board market decreased by -23.4% to $X in 2022. Overall, consumption, however, enjoyed a resilient expansion. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Particle Board Production in Ghana

In value terms, particle board production amounted to $X in 2022 estimated in export price. In general, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 when the production volume increased by 63%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Particle Board Exports

Exports from Ghana

For the seventh year in a row, Ghana recorded decline in overseas shipments of particle board, which decreased by -1.8% to X cubic meters in 2022. In general, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2015 when exports increased by 110%. The exports peaked at X cubic meters in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, particle board exports amounted to $X in 2022. Over the period under review, exports recorded a sharp shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 245%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X cubic meters), Gambia (X cubic meters) and Cote d'Ivoire (X cubic meters) were the main destinations of particle board exports from Ghana.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Gambia (with a CAGR of +32.0%), while the other leaders experienced mixed trend patterns.

In value terms, Togo ($X) remains the key foreign market for particle board exports from Ghana, comprising 63% of total exports. The second position in the ranking was held by Gambia ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo totaled -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gambia (+20.5% per year) and Cote d'Ivoire (+19.1% per year).

Export Prices by Country

In 2022, the average particle board export price amounted to $X per cubic meter, increasing by 2% against the previous year. Overall, the export price, however, saw a noticeable descent. The pace of growth was the most pronounced in 2015 when the average export price increased by 65% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per cubic meter), while the average price for exports to Gambia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Togo (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Particle Board Imports

Imports into Ghana

In 2022, after four years of growth, there was significant decline in purchases abroad of particle board, when their volume decreased by -27.3% to X cubic meters. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2014 when imports increased by 180% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2021, and then contracted markedly in the following year.

In value terms, particle board imports shrank sharply to $X in 2022. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 208%. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, Turkey (X cubic meters) constituted the largest supplier of particle board to Ghana, accounting for a 51% share of total imports. Moreover, particle board imports from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X cubic meters), sixfold. China (X cubic meters) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +72.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+38.6% per year) and China (+31.9% per year).

In value terms, the largest particle board suppliers to Ghana were Turkey ($X), China ($X) and Romania ($X), with a combined 54% share of total imports. Spain, Lebanon, Switzerland, Canada and Ireland lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Ireland, with a CAGR of +73.3%, recorded the highest rates of growth with regard to 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

In 2022, the average particle board import price amounted to $X per cubic meter, with a decrease of -7.9% against the previous year. Overall, the import price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 33%. The import price 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 supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for Turkey ($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 Switzerland (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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