Western Africa: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Western Africa

In 2021, after five years of growth, there was significant decline in the West African wood milling machine market, when its value decreased by -7.7% to $X. Overall, consumption, however, saw a noticeable increase. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Wood Milling Machine Production in Western Africa

In value terms, wood milling machine production dropped to $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable expansion. The growth pace was the most rapid in 2018 with an increase of 108%. The level of production peaked at $X in 2020, and then dropped in the following year.

Wood Milling Machine Exports

Exports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in shipments abroad of planing, milling or moulding machines, which increased by 81% to X units in 2021. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,350%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, wood milling machine exports soared to $X in 2021. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Cote d'Ivoire represented the major exporter of planing, milling or moulding machines in Western Africa, with the volume of exports finishing at X units, which was near 87% of total exports in 2021. It was distantly followed by Sierra Leone (X units), creating a 13% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the planing, milling or moulding machines exports, with a CAGR of +47.5% from 2012 to 2021. At the same time, Sierra Leone (+19.6%) displayed positive paces of growth. Cote d'Ivoire (+37 p.p.) significantly strengthened its position in terms of the total exports, while Sierra Leone saw its share reduced by -36.8% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) emerged as the largest wood milling machine supplier in Western Africa, comprising 88% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 5.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire stood at +78.3%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, picking up by 325% against the previous year. Overall, the export price, however, continues to indicate a abrupt decrease. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Cote d'Ivoire ($X per unit), while Sierra Leone totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+20.9%).

Wood Milling Machine Imports

Imports in Western Africa

In 2021, imports of planing, milling or moulding machines in Western Africa soared to X units, rising by 28% on 2020. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 117%. As a result, imports reached the peak of X units; afterwards, it flattened through to 2021.

In value terms, wood milling machine imports reached $X in 2021. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 144%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Ghana dominates imports structure, recording X units, which was near 59% of total imports in 2021. Cote d'Ivoire (X units) ranks second in terms of the total imports with a 9.7% share, followed by Nigeria (7.9%) and Senegal (5.3%). The following importers - Burkina Faso (X units), Benin (X units) and Guinea (X units) - together made up 11% of total imports.

Imports into Ghana increased at an average annual rate of +41.5% from 2012 to 2021. At the same time, Benin (+51.9%), Cote d'Ivoire (+39.9%), Guinea (+32.1%), Burkina Faso (+5.4%) and Nigeria (+5.3%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +51.9% from 2012-2021. By contrast, Senegal (-12.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Cote d'Ivoire, Benin and Guinea increased by +52, +8.4, +3.2 and +2.6 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported planing, milling or moulding machines in Western Africa, comprising 61% of total imports. The second position in the ranking was taken by Ghana ($X), with a 17% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

In Nigeria, wood milling machine imports expanded at an average annual rate of +14.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+20.6% per year) and Cote d'Ivoire (+20.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, falling by -16.3% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 46%. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+15.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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