Western Africa: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Western Africa

In 2021, the West African market for wood residues, pellets and other agglomerates was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a perceptible contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Wood Residues, Pellets And Other Agglomerates in Western Africa

In value terms, production of wood residues, pellets and other agglomerates contracted to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 29%. As a result, production reached the peak level of $X. From 2014 to 2021, production of growth failed to regain momentum.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in Western Africa

In 2021, the amount of wood residues, pellets and other agglomerates exported in Western Africa surged to X cubic meters, with an increase of 37% against the year before. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 371% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, exports of wood residues, pellets and other agglomerates expanded rapidly to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 294% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Nigeria represented the key exporter of wood residues, pellets and other agglomerates in Western Africa, with the volume of exports finishing at X cubic meters, which was near 76% of total exports in 2021. It was distantly followed by Benin (X cubic meters), committing a 20% share of total exports. The following exporters - Cote d'Ivoire (X cubic meters) and Ghana (X cubic meters) - each resulted at a 4.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood residues, pellets and other agglomerates exports from Nigeria stood at +71.1%. At the same time, Benin (+83.3%) and Cote d'Ivoire (+38.4%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +83.3% from 2012-2021. By contrast, Ghana (-2.7%) illustrated a downward trend over the same period. While the share of Nigeria (+58 p.p.) and Benin (+20 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-61.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood residues, pellets and other agglomerates supplying countries in Western Africa were Nigeria ($X), Benin ($X) and Ghana ($X), with a combined 98% share of total exports.

Benin, with a CAGR of +95.8%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the export price in Western Africa amounted to $X per cubic meter, which is down by -18.2% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when the export price increased by 56%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Benin ($X per cubic meter), while Nigeria ($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 Benin (+6.8%), while the other leaders experienced a decline in the export price figures.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports in Western Africa

In 2021, overseas purchases of wood residues, pellets and other agglomerates decreased by -5.3% to X cubic meters for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 352%. As a result, imports attained the peak of X cubic meters. From 2015 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of wood residues, pellets and other agglomerates declined to $X in 2021. Overall, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 201% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

Mauritania was the key importer of wood residues, pellets and other agglomerates in Western Africa, with the volume of imports amounting to X cubic meters, which was approx. 74% of total imports in 2021. It was distantly followed by Nigeria (X cubic meters) and Senegal (X cubic meters), together constituting an 18% share of total imports. The following importers - Ghana (X cubic meters) and Mali (X cubic meters) - each amounted to a 4.6% share of total imports.

Mauritania was also the fastest-growing in terms of the wood residues, pellets and other agglomerates imports, with a CAGR of +39.6% from 2012 to 2021. At the same time, Senegal (+10.6%), Mali (+5.9%) and Ghana (+4.5%) displayed positive paces of growth. By contrast, Nigeria (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mauritania increased by +63 percentage points.

In value terms, Mauritania ($X) constitutes the largest market for imported wood residues, pellets and other agglomerates in Western Africa, comprising 50% of total imports. The second position in the ranking was held by Nigeria ($X), with a 19% share of total imports. It was followed by Senegal, with a 15% share.

In Mauritania, imports of wood residues, pellets and other agglomerates increased at an average annual rate of +28.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (-3.7% per year) and Senegal (+8.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2021, with a decrease of -8.7% against the previous year. In general, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2016 an increase of 28%. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per cubic meter), while Mauritania ($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 Mali (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform