Western Africa: Market for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike 2024

Market Size for Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Western Africa

The West African gum or wood oils market reached $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, continues to indicate a deep reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike in Western Africa

In value terms, gum or wood oils production rose modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Exports in Western Africa

In 2022, shipments abroad of gum, wood or sulphate turpentine oils, pine oil and other alike increased by X% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, gum or wood oils exports dropped slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. Ghana (X kg) held a little share of total exports.

Nigeria was also the fastest-growing in terms of the gum, wood or sulphate turpentine oils, pine oil and other alike exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest gum or wood oils supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price recorded a perceptible contraction. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Imports of Gum, Wood Or Sulphate Turpentine Oils, Pine Oil And Other Alike

Imports in Western Africa

In 2022, gum or wood oils imports in Western Africa declined rapidly to X tons, dropping by X% compared with 2021. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gum or wood oils imports fell rapidly to $X in 2022. Overall, imports showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of about X tons, which resulted at X% of total imports. Saint Helena, Ascension and Tristan da Cunha (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%) and Sierra Leone (X%). Ghana (X tons), Liberia (X tons) and Guinea (X tons) held a relatively small share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Saint Helena, Ascension and Tristan da Cunha (X%), Sierra Leone (X%), Senegal (X%), Liberia (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Saint Helena, Ascension and Tristan da Cunha emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. Saint Helena, Ascension and Tristan da Cunha (X p.p.), Senegal (X p.p.), Sierra Leone (X p.p.), Liberia (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported gum, wood or sulphate turpentine oils, pine oil and other alike in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Sierra Leone, with an X% share.

In Nigeria, gum or wood oils imports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Sierra Leone (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, showed moderate growth. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then fell significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Saint Helena, Ascension and Tristan da Cunha ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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