Africa: Densified Wood Market 2024

Densified Wood Market Size in Africa

The African densified wood market dropped to $X in 2023, waning by X% against the previous year. In general, consumption, however, saw a abrupt downturn. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market remained at a somewhat lower figure.

Densified Wood Production in Africa

In value terms, densified wood production shrank remarkably to $X in 2023 estimated in export price. Over the period under review, production recorded a mild decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Densified Wood Exports

Exports in Africa

In 2023, overseas shipments of densified wood increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, densified wood exports fell to $X in 2023. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then contracted in the following year.

Exports by Country

Angola was the key exporter of densified wood in Africa, with the volume of exports reaching X tons, which was near X% of total exports in 2023. Burkina Faso (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by South Africa (X%). Gabon (X tons), Namibia (X tons) and Cameroon (X tons) took a minor share of total exports.

Angola was also the fastest-growing in terms of the densified wood exports, with a CAGR of X% from 2012 to 2023. At the same time, Burkina Faso (X%), Namibia (X%), Gabon (X%) and South Africa (X%) displayed positive paces of growth. By contrast, Cameroon (X%) illustrated a downward trend over the same period. Angola (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Cameroon saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Angola ($X) remains the largest densified wood supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Angola totaled X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, showed a prominent expansion. The pace of growth was the most pronounced in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Angola ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Angola (X%), while the other leaders experienced mixed trends in the export price figures.

Densified Wood Imports

Imports in Africa

In 2023, imports of densified wood in Africa soared to X tons, growing by X% on 2022. In general, imports recorded a resilient increase. The growth pace was the most rapid in 2022 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, densified wood imports surged to $X in 2023. Total imports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Burkina Faso prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2023. Somalia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Sudan (X%). The following importers - Morocco (X tons) and Egypt (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to densified wood imports into Burkina Faso stood at X%. At the same time, Somalia (X%), Morocco (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Somalia emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. By contrast, Sudan (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.) and Somalia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Sudan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest densified wood importing markets in Africa were Burkina Faso ($X), Somalia ($X) and Sudan ($X), with a combined X% share of total imports.

Somalia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Somalia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform