SADC: Wood Barrel Market 2023

Wood Barrel Market Size in SADC

The SADC wood barrel market dropped to $X in 2022, which is down by -5.4% against the previous year. The market value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wood Barrel Production in SADC

In value terms, wood barrel production amounted to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 52%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Barrel Exports

Exports in SADC

In 2022, after two years of growth, there was significant decline in shipments abroad of casks, barrels, vats, tubs, and coopers products of wood, when their volume decreased by -19.2% to X units. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 105%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, wood barrel exports shrank to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 127% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

South Africa represented the key exporter of casks, barrels, vats, tubs, and coopers products of wood in SADC, with the volume of exports finishing at X units, which was approx. 63% of total exports in 2022. It was distantly followed by Swaziland (X units), comprising a 37% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Swaziland (with a CAGR of +16.7%).

In value terms, South Africa ($X) and Swaziland ($X) were the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Swaziland, with a CAGR of +20.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per unit, growing by 7.3% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood barrel export price increased by +88.8% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 32%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Swaziland ($X per unit), while South Africa amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.7%).

Wood Barrel Imports

Imports in SADC

In 2022, supplies from abroad of casks, barrels, vats, tubs, and coopers products of wood decreased by -44.3% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports saw a noticeable downturn. The pace of growth appeared the most rapid in 2013 with an increase of 104%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, wood barrel imports contracted remarkably to $X in 2022. Over the period under review, imports showed a mild shrinkage. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

South Africa prevails in imports structure, recording X units, which was approx. 83% of total imports in 2022. Mauritius (X units) took the second position in the ranking, followed by Angola (X units). All these countries together held near 9.3% share of total imports. The following importers - Mozambique (X units) and Tanzania (X units) - together made up 4.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to wood barrel imports into South Africa stood at -3.4%. At the same time, Mozambique (+19.3%), Angola (+14.3%), Mauritius (+13.1%) and Tanzania (+9.8%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +19.3% from 2012-2022. While the share of Angola (+3.7 p.p.), Mauritius (+3.6 p.p.) and Mozambique (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Africa (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported casks, barrels, vats, tubs, and coopers products of wood in SADC, comprising 95% of total imports. The second position in the ranking was taken by Mauritius ($X), with a 1.7% share of total imports. It was followed by Angola, with a 1.5% share.

In South Africa, wood barrel imports plunged by an average annual rate of -1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mauritius (+10.6% per year) and Angola (+17.4% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per unit, increasing by 47% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood barrel import price increased by +52.6% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 50%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per unit), while Mozambique ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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