Western Africa: Veneer Sheets Market 2025

Veneer Sheets Market Size in Western Africa

The West African veneer sheets market stood at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Veneer Sheets Production in Western Africa

In value terms, veneer sheets production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a slight shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 10% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Veneer Sheets Exports

Exports in Western Africa

Veneer sheets exports shrank sharply to X cubic meters in 2022, falling by -22.9% on the previous year's figure. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 76%. As a result, the exports reached the peak of X cubic meters, and then dropped notably in the following year.

In value terms, veneer sheets exports contracted significantly to $X in 2022. Over the period under review, exports showed a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 118% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

Cote d'Ivoire represented the major exporter of veneer sheets in Western Africa, with the volume of exports resulting at X cubic meters, which was near 72% of total exports in 2022. It was distantly followed by Ghana (X cubic meters), comprising a 26% share of total exports.

Cote d'Ivoire experienced a relatively flat trend pattern with regard to volume of exports of veneer sheets. Ghana (-1.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire increased by +1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest veneer sheets supplying countries in Western Africa were Cote d'Ivoire ($X) and Ghana ($X).

In terms of the main exporting countries, Ghana, with a CAGR of -1.2%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per cubic meter, falling by -6.3% against the previous year. Over the period under review, the export price recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 when the export price increased by 24%. The level of export peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per cubic meter), while Cote d'Ivoire totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.1%).

Veneer Sheets Imports

Imports in Western Africa

In 2022, purchases abroad of veneer sheets decreased by -9.2% to X cubic meters, falling for the second year in a row after three years of growth. Overall, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 556% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, veneer sheets imports surged to $X in 2022. In general, imports, however, saw significant growth. The growth pace was the most rapid in 2020 when imports increased by 450% 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

The purchases of the one major importers of veneer sheets, namely Nigeria, represented more than two-thirds of total import.

Nigeria was also the fastest-growing in terms of the veneer sheets imports, with a CAGR of +53.0% from 2012 to 2022. While the share of Nigeria (+41 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported veneer sheets in Western Africa.

In Nigeria, veneer sheets imports increased at an average annual rate of +54.0% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2022, growing by 51% against the previous year. Overall, the import price showed a modest increase. The level of import peaked at $X per cubic meter in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +0.7% per year.

Source: IndexBox Platform

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