Nigeria: Wood Residues Market 2022

Wood Residues Market Size in Nigeria

In 2020, after six years of decline, there was significant decline in the Nigerien wood residues market, when its value decreased by -X% to $X. Overall, consumption faced a abrupt decrease. The growth pace was the most rapid in 2012 with an increase of X% year-to-year. Wood residues consumption peaked at $X in 2007; however, from 2008 to 2020, consumption stood at a somewhat lower figure.

Wood Residues Exports

Exports from Nigeria

In 2020, the amount of wood residues exported from Nigeria was estimated at X cubic meters, leveling off at the previous year's figure. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at X cubic meters in 2018; afterwards, it flattened through to 2020.

In value terms, wood residues exports surged to $X in 2020. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Exports peaked in 2020 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X cubic meters), Mauritius (X cubic meters) and Vietnam (X cubic meters) were the main destinations of wood residues exports from Nigeria, together accounting for X% of total exports. Moreover, wood residues exports in Germany exceeded the figures recorded by the second-largest exporter, Mauritius, twofold.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mauritius, while exports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Canada ($X) were the largest markets for wood residues exported from Nigeria worldwide, together comprising X% of total exports. Austria, Vietnam, Spain, Poland, France, Norway, the Czech Republic, Croatia and Belarus lagged somewhat behind, together comprising a further X the main countries of destination, Vietnam (+X% per year) recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood residues export price stood at $X per cubic meter in 2020, growing by X% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the maximum in 2020 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Canada ($X per cubic meter), while the average price for exports to Mauritius ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Mauritius, while the prices for the other major destinations experienced more modest paces of growth.

Wood Residues Imports

Imports into Nigeria

After six years of decline, supplies from abroad of wood residues decreased by X% to X cubic meters in 2020. In general, imports saw a perceptible decrease. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X cubic meters in 2013; however, from 2014 to 2020, imports stood at a somewhat lower figure.

In value terms, wood residues imports fell to $X in 2020. Over the period under review, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

Imports by Country

France (X cubic meters), Austria (X cubic meters) and Germany (X cubic meters) were the main suppliers of wood residues imports to Nigeria, together accounting for X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France, while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Austria ($X) and Germany ($X) appeared to be the largest wood residues suppliers to Nigeria, together comprising X% of total imports. These countries were followed by Belgium, Norway, Italy, the Netherlands and Canada, which together accounted for a further X terms of the main suppliers, Norway saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average wood residues import price stood at $X per cubic meter in 2020, shrinking by -X% against the previous year. Overall, the import price recorded a abrupt decline. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2007; however, from 2008 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Norway ($X per cubic meter), while the price for New Zealand ($X per cubic meter) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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