Report Update Apr 1, 2024

Nigeria - Roundwood - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Roundwood Market 2024

Roundwood Market Size in Nigeria

The Nigerien roundwood market reduced slightly to $X in 2022, remaining stable against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Roundwood consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Roundwood Production in Nigeria

In value terms, roundwood production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Roundwood production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Roundwood Exports

Exports from Nigeria

In 2022, overseas shipments of roundwood increased by X% to X cubic meters, rising for the second year in a row after three years of decline. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, roundwood exports soared to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X cubic meters) was the main destination for roundwood exports from Nigeria, accounting for a X% share of total exports. Moreover, roundwood exports to Vietnam exceeded the volume sent to the second major destination, China (X cubic meters), fivefold.

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

In value terms, Vietnam ($X) remains the key foreign market for roundwood exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average roundwood export price amounted to $X per cubic meter, increasing by X% against the previous year. Overall, the export price, however, showed a abrupt descent. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per cubic meter), while the average price for exports to China ($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 China (X%), while the prices for the other major destinations experienced a decline.

Roundwood Imports

Imports into Nigeria

In 2022, after two years of growth, there was significant decline in supplies from abroad of roundwood, when their volume decreased by X% to X cubic meters. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X cubic meters in 2021, and then fell notably in the following year.

In value terms, roundwood imports surged to $X in 2022. Over the period under review, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Madagascar (X cubic meters) was the main supplier of roundwood to Nigeria, with a X% share of total imports. It was followed by China (X cubic meters), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Madagascar stood at X%.

In value terms, Madagascar ($X) constituted the largest supplier of roundwood to Nigeria, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Madagascar amounted to X%.

Import Prices by Country

In 2022, the average roundwood import price amounted to $X per cubic meter, rising by X% against the previous year. Overall, the import price posted a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Madagascar ($X per cubic meter), while the price for China stood at $X per cubic meter.

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

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Frequently Asked Questions (FAQ) :

What are the largest markets for roundwood in the world?

South Africa remains the largest roundwood consuming country worldwide, accounting for 50% of total volume. Moreover, roundwood consumption in South Africa exceeded the figures recorded by the second-largest consumer, Belarus, fourfold. Bosnia and Herzegovina ranked third in terms of total consumption with an 11% share.

What are the largest producers of roundwood in the world?

Bosnia and Herzegovina constituted the country with the largest volume of roundwood production, accounting for 64% of total volume. Moreover, roundwood production in Bosnia and Herzegovina exceeded the figures recorded by the second-largest producer, Belarus, threefold.

What are the leading suppliers of roundwood to Nigeria?

In value terms, Madagascar constituted the largest supplier of roundwood to Nigeria, comprising 98% of total imports. The second position in the ranking was held by China, with a 0.7% share of total imports.

What are the leading importers of roundwood from Nigeria?

In value terms, Vietnam remains the key foreign market for roundwood exports from Nigeria, comprising 44% of total exports. The second position in the ranking was taken by China, with an 8.3% share of total exports.

What is the average export price for roundwood in Nigeria?

The average roundwood export price stood at $296 per cubic meter in 2022, with an increase of 16% against the previous year.

What is the average import price for roundwood in Nigeria?

In 2022, the average roundwood import price amounted to $839 per cubic meter, increasing by 124% against the previous year.

This report provides an in-depth analysis of the roundwood market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1627 - Wood fuel, coniferous (production)
FCL 1628 - Wood fuel, non-coniferous (production)
FCL 1866 -
FCL 1867 -

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023