Western Africa: Wood Pellets Market 2024

Wood Pellets Market Size in Western Africa

In 2022, the West African wood pellets market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a deep downturn. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Wood Pellets Production in Western Africa

In value terms, wood pellets production totaled $X in 2022 estimated in export price. Overall, production, however, saw a mild descent. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wood Pellets Exports

Exports in Western Africa

In 2022, shipments abroad of wood pellets decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, wood pellets exports rose remarkably to $X in 2022. In general, exports, however, saw a measured expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Ghana (X tons) and Nigeria (X tons) dominates exports structure, together generating X% of total exports. Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) remains the largest wood pellets supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana was relatively modest. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced a decline in the export price figures.

Wood Pellets Imports

Imports in Western Africa

Wood pellets imports soared to X tons in 2022, picking up by X% compared with 2021 figures. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by X,860% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wood pellets imports skyrocketed to $X in 2022. Overall, imports saw buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Senegal (X tons), committing a X% share of total imports. Mauritania (X tons) and Cote d'Ivoire (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wood pellets imports into Nigeria stood at X%. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Mauritania experienced a relatively flat trend pattern. From 2012 to 2022, the share of Nigeria, Senegal and Mauritania increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Nigeria, wood pellets imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Mauritania (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the 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 Mauritania ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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