Nigeria: Wood Charcoal Market 2024

Wood Charcoal Market Size in Nigeria

After four years of growth, the Nigerien wood charcoal market decreased by -2.1% to $X in 2021. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Wood charcoal consumption peaked at $X in 2020, and then reduced slightly in the following year.

Wood Charcoal Production in Nigeria

In value terms, wood charcoal production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 16%. Wood charcoal production peaked at $X in 2020, and then contracted modestly in the following year.

Wood Charcoal Exports

Exports from Nigeria

In 2021, overseas shipments of wood charcoal decreased by -24.9% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, exports showed a slight contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 26% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wood charcoal exports dropped rapidly to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 35%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Poland (X tons) and Kuwait (X tons) were the main destinations of wood charcoal exports from Nigeria, with a combined 42% share of total exports. These countries were followed by Portugal, Saudi Arabia, Italy, Lebanon, Greece, Jordan, the UK, Germany, Israel and China, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were in Jordan (with a CAGR of +75.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood charcoal exported from Nigeria were the United Arab Emirates ($X), Poland ($X) and Lebanon ($X), with a combined 35% share of total exports. These countries were followed by Kuwait, Portugal, Italy, Saudi Arabia, Jordan, the UK, Israel, Greece, Germany and China, which together accounted for a further 51%.

Jordan, with a CAGR of +70.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood charcoal export price stood at $X per ton in 2021, reducing by -4.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2013 an increase of 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Jordan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Charcoal Imports

Imports into Nigeria

In 2021, purchases abroad of wood charcoal was finally on the rise to reach X tons after two years of decline. Over the period under review, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 27,224%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wood charcoal imports soared to $X in 2021. In general, imports recorded a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by 112,843% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wood charcoal to Nigeria, accounting for a 88% share of total imports. Moreover, wood charcoal imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was taken by Niger (X tons), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (0.0% per year) and Niger (0.0% per year).

In value terms, the largest wood charcoal suppliers to Nigeria were China ($X), Niger ($X) and South Africa ($X), with a combined 94% share of total imports.

Among the main suppliers, China, with a CAGR of +12.6%, saw 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

The average wood charcoal import price stood at $X per ton in 2021, jumping by 23% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 313% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Niger ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.6%).

Source: IndexBox Platform

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