Report Update Nov 1, 2024

Nigeria - Wood Pellets - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Wood Pellets Market 2024

Wood Pellets Market Size in Nigeria

In 2022, after three years of decline, there was significant growth in the Nigerien wood pellets market, when its value increased by 64% to $X. In general, consumption, however, recorded a abrupt curtailment. Wood pellets consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Wood Pellets Production in Nigeria

In value terms, wood pellets production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Wood Pellets Exports

Exports from Nigeria

In 2022, approx. X tons of wood pellets were exported from Nigeria; picking up by 9.8% against the previous year. In general, exports posted a significant increase. The growth pace was the most rapid in 2018 when exports increased by 21%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, wood pellets exports expanded slightly to $X in 2022. Over the period under review, exports posted noticeable growth. The most prominent rate of growth was recorded in 2018 with an increase of 16%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for wood pellets exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of volume to Benin was relatively modest.

In value terms, Benin ($X) emerged as the key foreign market for wood pellets exports from Nigeria.

From 2015 to 2022, the average annual growth rate of value to Benin was relatively modest.

Export Prices by Country

The average wood pellets export price stood at $X per ton in 2022, declining by -6.6% against the previous year. Over the period under review, the export price continues to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by 14%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2015 to 2022, the rate of growth in terms of prices for Belgium amounted to +48.0% per year.

Wood Pellets Imports

Imports into Nigeria

Wood pellets imports into Nigeria surged to X tons in 2022, jumping by 47% on the previous year's figure. In general, imports saw prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 2,340% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wood pellets imports soared to $X in 2022. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 4,213% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main wood pellets supplier to Nigeria, accounting for a 97% share of total imports. It was followed by the UK (X tons), with a 3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +8.9%.

In value terms, China ($X) constituted the largest supplier of wood pellets to Nigeria, comprising 97% of total imports. The second position in the ranking was taken by the UK ($X), with a 3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +22.6%.

Import Prices by Country

The average wood pellets import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price, however, posted resilient growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 77% against the previous year. The import price peaked at $X per ton in 2021, and then fell slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+306.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wood pellets in the world?

The UK constituted the country with the largest volume of wood pellets consumption, accounting for 23% of total volume. Moreover, wood pellets consumption in the UK exceeded the figures recorded by the second-largest consumer, Italy, threefold. The Netherlands ranked third in terms of total consumption with a 6.5% share.

What are the largest producers of wood pellets in the world?

United States constituted the country with the largest volume of wood pellets production, accounting for 19% of total volume. Moreover, wood pellets production in United States exceeded the figures recorded by the second-largest producer, Canada, twofold. The third position in this ranking was occupied by Viet Nam, with a 7.4% share.

What are the leading suppliers of wood pellets to Nigeria?

In value terms, South Africa constituted the largest supplier of wood pellets to Nigeria.

What are the leading importers of wood pellets from Nigeria?

In value terms, Belgium remains the key foreign market for wood pellets exports from Nigeria.

What is the average export price for wood pellets in Nigeria?

The average wood pellets export price stood at $262 per ton in 2018, waning by -3.8% against the previous year.

What is the average import price for wood pellets in Nigeria?

In 2020, the average wood pellets import price amounted to $232 per ton, surging by 2.8% against the previous year.

This report provides an in-depth analysis of the wood pellets market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1693 - Wood pellets

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023