Nigeria: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Nigeria

The Nigerien wood chips and particles market rose modestly to $X in 2022, picking up by 2.9% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Wood Chips And Particles in Nigeria

In value terms, wood chips and particles production totaled $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 36% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Wood Chips And Particles

Exports from Nigeria

In 2022, wood chips and particles exports from Nigeria contracted to X cubic meters, falling by -6.7% on the previous year. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 727%. The exports peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, wood chips and particles exports stood at $X in 2022. Overall, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 469% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X cubic meters) was the main destination for wood chips and particles exports from Nigeria, with a 68% share of total exports. Moreover, wood chips and particles exports to Belgium exceeded the volume sent to the second major destination, China (X cubic meters), fourfold. Italy (X cubic meters) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium totaled +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-10.3% per year) and Italy (+53.2% per year).

In value terms, Italy ($X) remains the key foreign market for wood chips and particles exports from Nigeria, comprising 52% of total exports. The second position in the ranking was taken by China ($X), with a 24% share of total exports. It was followed by Belgium, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +187.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-8.7% per year) and Belgium (-7.3% per year).

Export Prices by Country

The average wood chips and particles export price stood at $X per cubic meter in 2022, rising by 18% against the previous year. Overall, the export price, however, recorded a mild setback. The growth pace was the most rapid in 2017 when the average export price increased by 69% against the previous year. The export price peaked at $X per cubic meter in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per cubic meter), while the average price for exports to Germany ($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 Poland (+240.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Chips And Particles

Imports into Nigeria

After two years of growth, overseas purchases of wood chips and particles decreased by -5.5% to X cubic meters in 2022. In general, imports saw a precipitous shrinkage. The growth pace was the most rapid in 2013 when imports increased by 25% against the previous year. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, wood chips and particles imports fell notably to $X in 2022. Overall, imports continue to indicate a significant contraction. The pace of growth was the most pronounced in 2021 with an increase of 105% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X cubic meters) was the main supplier of wood chips and particles to Nigeria, accounting for a 99% share of total imports. It was followed by Germany (X cubic meters), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.0%.

In value terms, China ($X) constituted the largest supplier of wood chips and particles to Nigeria, comprising 89% of total imports. The second position in the ranking was taken by Germany ($X), with a 4.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +1.5%.

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, shrinking by -21.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 110%. As a result, import price reached the peak level of $X per cubic meter. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for China stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+55.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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