Western Africa: Market for Particle Board And Similar Board Of Ligneous Materials (Excluding Wood) 2025

Market Size for Particle Board And Similar Board Of Ligneous Materials (Excluding Wood) in Western Africa

In 2021, after five years of growth, there was decline in the West African market for particle board and similar board of ligneous materials (excluding wood), when its value decreased by -3% to $X. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.3% against 2015 indices. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Production of Particle Board And Similar Board Of Ligneous Materials (Excluding Wood) in Western Africa

In value terms, production of particle board and similar board of ligneous materials (excluding wood) declined slightly to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.0% against 2015 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 29%. Over the period under review, production of attained the maximum level at $X in 2020, and then fell in the following year.

Exports of Particle Board And Similar Board Of Ligneous Materials (Excluding Wood)

Exports in Western Africa

In 2021, shipments abroad of particle board and similar board of ligneous materials (excluding wood) decreased by -23.6% to X cubic meters, falling for the third year in a row after four years of growth. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 188%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of particle board and similar board of ligneous materials (excluding wood) dropped significantly to $X in 2021. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 233% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Nigeria dominates wood) structure, amounting to X cubic meters, which was near 90% of total exports in 2021. It was distantly followed by Ghana (X cubic meters), achieving a 7.2% share of total exports. Togo (X cubic meters) held a minor share of total exports.

Exports from Nigeria decreased at an average annual rate of -2.3% from 2012 to 2021. At the same time, Togo (+6.4%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +6.4% from 2012-2021. By contrast, Ghana (-15.4%) illustrated a downward trend over the same period. Nigeria (+74 p.p.), Ghana (+2.4 p.p.) and Togo (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest board of bagasse, bamboo or other particles supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was held by Ghana ($X), with a 0.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Nigeria was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-35.8% per year) and Togo (-27.3% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per cubic meter, approximately equating the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for particle board and similar board of ligneous materials (excluding wood) increased by +6.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 52%. The level of export peaked at $X per cubic meter in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per cubic meter), while Ghana ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+2.1%), while the other leaders experienced a decline in the export price figures.

Imports of Particle Board And Similar Board Of Ligneous Materials (Excluding Wood)

Imports in Western Africa

In 2021, the amount of particle board and similar board of ligneous materials (excluding wood) imported in Western Africa soared to X cubic meters, rising by 276% on the year before. Overall, imports posted a strong expansion. Over the period under review, imports of reached the maximum at X cubic meters in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of particle board and similar board of ligneous materials (excluding wood) soared to $X in 2021. In general, imports continue to indicate buoyant growth. Over the period under review, imports of attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Nigeria prevails in wood) structure, finishing at X cubic meters, which was approx. 73% of total imports in 2021. Senegal (X cubic meters) held the second position in the ranking, followed by Ghana (X cubic meters). All these countries together held near 13% share of total imports. Cabo Verde (X cubic meters), Cote d'Ivoire (X cubic meters) and Gambia (X cubic meters) took a minor share of total imports.

Imports into Nigeria increased at an average annual rate of +12.5% from 2012 to 2021. At the same time, Ghana (+34.3%), Cabo Verde (+23.1%), Gambia (+21.6%), Cote d'Ivoire (+18.0%) and Senegal (+7.5%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +34.3% from 2012-2021. Ghana (+4.6 p.p.), Nigeria (+3.7 p.p.) and Cabo Verde (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Senegal saw its share reduced by -3.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported particle board and similar board of ligneous materials (excluding wood) in Western Africa, comprising 64% of total imports. The second position in the ranking was held by Ghana ($X), with a 14% share of total imports. It was followed by Cote d'Ivoire, with a 4.7% share.

In Nigeria, imports of particle board and similar board of ligneous materials (excluding wood) expanded at an average annual rate of +15.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+49.2% per year) and Cote d'Ivoire (+15.6% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per cubic meter, reducing by -3.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2020 an increase of 65% against the previous year. The level of import peaked at $X per cubic meter in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per cubic meter), while Gambia ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+15.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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