Western Africa: Wood Residues Market 2022

Wood Residues Market Size in Western Africa

In 2020, the West African wood residues market decreased by -X% to $X, falling for the second consecutive year after twelve years of growth. Overall, consumption showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. As a result, consumption reached the peak level of $X. from 2019 to 2020, the growth of the market remained at a somewhat lower figure.

Wood Residues Production in Western Africa

In value terms, wood residues production fell to $X in 2020 estimated in export prices. In general, production posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. As a result, production reached the peak level of $X. from 2019 to 2020, production growth failed to regain the momentum.

Production By Country in Western Africa

The country with the largest volume of wood residues production was Mali (X cubic meters), comprising approx. X% of total volume. Moreover, wood residues production in Mali exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X cubic meters), ninefold.

From 2007 to 2020, the average annual growth rate of volume in Mali stood at +X%.

Wood Residues Exports

Exports in Western Africa

In 2020, overseas shipments of wood residues decreased by -X% to X cubic meters, falling for the second year in a row after three years of growth. Overall, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2016 with an increase of X% y-o-y. The volume of export peaked at X cubic meters in 2007; however, from 2008 to 2020, exports stood at a somewhat lower figure.

In value terms, wood residues exports dropped modestly to $X in 2020. Total exports indicated a slight expansion from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2018 indices. The growth pace was the most rapid in 2018 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. from 2019 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

In 2020, Togo (X cubic meters), distantly followed by Mali (X cubic meters), Benin (X cubic meters), Cote d'Ivoire (X cubic meters), Gambia (X cubic meters) and Ghana (X cubic meters) represented the key exporters of wood residues, together committing X% of total exports. Nigeria (X cubic meters) followed a long way behind the leaders.

From 2007 to 2020, the biggest increases were in Cote d'Ivoire, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X), Ghana ($X) and Benin ($X) were the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Mali recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The wood residues export price in Western Africa stood at $X per cubic meter in 2020, declining by -X% against the previous year. Export price indicated a measured expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, wood residues export price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of X% year-to-year. As a result, export price attained the peak level of $X per cubic meter. from 2019 to 2020, the growth in terms of the export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Ghana ($X per cubic meter), while Togo ($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 Nigeria, while the other leaders experienced more modest paces of growth.

Wood Residues Imports

Imports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in overseas purchases of wood residues, which increased by X% to X cubic meters in 2020. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2020 and are likely to see gradual growth in the near future.

In value terms, wood residues imports stood at $X in 2020. Total imports indicated measured growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% year-to-year. Over the period under review, imports hit record highs in 2020 and are likely to see gradual growth in years to come.

Imports by Country

Mauritania represented the main importing country with an import of about X cubic meters, which recorded X% of total imports. Sierra Leone (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%), Benin (X%), Guinea-Bissau (X%) and Cabo Verde (X%). Guinea (X cubic meters) held a relatively small share of total imports.

Mauritania was also the fastest-growing in terms of the wood residues imports, with a CAGR of +X% from 2007 to 2020. At the same time, Benin (+X%) and Guinea-Bissau (+X%) displayed positive paces of growth. Sierra Leone and Guinea experienced a relatively flat trend pattern. By contrast, Cabo Verde (-X%) and Nigeria (-X%) illustrated a downward trend over the same period. Mauritania (+X p.p.), Benin (+X p.p.) and Guinea-Bissau (+X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde and Nigeria saw its share reduced by -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea-Bissau ($X), Nigeria ($X) and Sierra Leone ($X) were the countries with the highest levels of imports in 2020, with a combined X% share of total imports.

In terms of the main importing countries, Sierra Leone saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The wood residues import price in Western Africa stood at $X per cubic meter in 2020, reducing by -X% against the previous year. Import price indicated a moderate increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, wood residues import price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2013 when the import price increased by X% y-o-y. Over the period under review, import prices hit record highs at $X per cubic meter in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Guinea-Bissau ($X per cubic meter), while Mauritania ($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 Sierra Leone, while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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