Ghana: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Ghana

The Ghanian wood-based panels market shrank to $X in 2022, reducing by X% against the previous year. In general, consumption recorded a noticeable downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Wood-Based Panels Production in Ghana

In value terms, wood-based panels production dropped slightly to $X in 2022 estimated in export price. In general, production showed a noticeable decrease. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Wood-Based Panels Exports

Exports from Ghana

In 2022, overseas shipments of wood-based panels increased by X% to X cubic meters, rising for the second consecutive year after two years of decline. In general, exports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood-based panels exports rose notably to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X cubic meters) was the main destination for wood-based panels exports from Ghana, accounting for a X% share of total exports. Moreover, wood-based panels exports to Burkina Faso exceeded the volume sent to the second major destination, Senegal (X cubic meters), twofold. Benin (X cubic meters) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (X% per year) and Benin (X% per year).

In value terms, the largest markets for wood-based panels exported from Ghana were Italy ($X), Senegal ($X) and the United States ($X), together accounting for X% of total exports.

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood-based panels export price stood at $X per cubic meter in 2022, leveling off at the previous year. Overall, the export price saw a pronounced contraction. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per cubic meter), while the average price for exports to Burkina Faso ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood-Based Panels Imports

Imports into Ghana

After ten years of growth, purchases abroad of wood-based panels decreased by X% to X cubic meters in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2021, and then shrank in the following year.

In value terms, wood-based panels imports dropped modestly to $X in 2022. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, China (X cubic meters) constituted the largest supplier of wood-based panels to Ghana, with a X% share of total imports. Moreover, wood-based panels imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X cubic meters), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Romania (X% per year).

In value terms, China ($X) constituted the largest supplier of wood-based panels to Ghana, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Romania (X% per year).

Import Prices by Country

In 2022, the average wood-based panels import price amounted to $X per cubic meter, increasing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for Turkey ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :