ECOWAS: Wood Pulp Market 2023

Wood Pulp Market Size in ECOWAS

The ECOWAS wood pulp market shrank modestly to $X in 2022, reducing by X% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Wood Pulp Production in ECOWAS

In value terms, wood pulp production declined rapidly to $X in 2022 estimated in export price. In general, production saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Wood Pulp Exports

Exports in ECOWAS

In 2022, exports of wood pulp in ECOWAS soared to X tons, with an increase of X% against 2021. Overall, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by X,859% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wood pulp exports surged to $X in 2022. In general, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal (X tons) represented roughly X% of total exports in 2022.

Senegal was also the fastest-growing in terms of the wood pulp exports, with a CAGR of X% from 2012 to 2022. Senegal (X 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 Senegal, wood pulp exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to X% per year.

Wood Pulp Imports

Imports in ECOWAS

For the seventh consecutive year, ECOWAS recorded growth in overseas purchases of wood pulp, which increased by X% to X tons in 2022. Overall, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, wood pulp imports surged to $X in 2022. Over the period under review, imports posted a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Nigeria represented the major importer of wood pulp in ECOWAS, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X tons), Senegal (X tons) and Cote d'Ivoire (X tons), together comprising a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Senegal (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported wood pulp in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Nigeria, wood pulp imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a slight setback. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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