Particle board of wood market in ECOWAS

Earlier Report Observations

From 2018 to 2020, particle board production in ECOWAS remained steady at 48 000 m³ per year, while market volume in physical terms grew from 54 454 m³ to 66 659 m³, driven primarily by rising imports. The COVID-19 pandemic in 2020 disrupted supply and demand balances, leading to a substantial increase in wood manufacturing prices that impacted the particle board market.

Market expansion continued through 2021 and 2022, with physical volume reaching 83 615 m³ in 2022. In 2021, wood production prices experienced extreme volatility, peaking at a 209% increase in May before falling 53% in August due to demand adjustments and easing supply constraints, directly affecting market dynamics. The market volume in physical terms contracted to 75 660 m³ in 2023, though its value rose to 68 057 thousand US dollars, as decreasing energy prices in 2023 helped lower production costs. A strategic acquisition by a major player in France the same year illustrated ongoing vertical integration trends within the wood panel sector.

In 2024, imports rose to 44 010 m³ while exports fell sharply to 641 m³. An anti-dumping investigation launched in Europe on hard plywood from China may influence import flows and competition in the particle board market.

Production particle board of wood in ECOWAS

In kind, 2017-2020, m³

Top producers of particle board of wood, 2017-2020

World map of production of particle board of wood, 2017-2020

In 2020, ECOWAS produced 48 000 m³ of particle board of wood, which remained unchanged from the previous year. The largest decline occurred in 2018, at 0.0%, while the largest increase was also recorded in 2018, at 0.0%.

Annual dynamics of production in ECOWAS in kind, 2017-2020, m³

In value, 2017-2020, K $ US

After two years of growth, particle board of wood production in ECOWAS declined in 2020. The output was valued at 41 510 K $ US, marking a 2.1% decrease compared to the prior year. From 2017 to 2020, production increased by 6.1%, translating to an annualized growth rate of 2.0%. The peak value was reached in 2019 at 42 383 K $ US, with the largest increase of 8.3% also occurring that year.

Annual dynamics of production in ECOWAS in value, 2017-2020, K $ US

Exports particle board of wood from ECOWAS

Exports in kind, m³

Following two years of gains, particle board of wood exports from ECOWAS declined in 2020. Exports totaled 3 002 m³, representing a 23.5% drop from the previous year. Over the period from 2017 to 2020, exports decreased by 16.7%, with a compound annual growth rate of -5.9%. The highest volume was recorded in 2019 at 3 926 m³, while the largest increase of 6.9% took place in 2018.

Annual dynamics of product's exports from ECOWAS in kind, 2017-2020, m³

From 2017 to 2020, exports of particle board of wood from ECOWAS were heavily concentrated on France, which accounted for 71.2% of total flows. The remaining 28.8% was distributed among other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ECOWAS in kind, 2017-2020

Exports in value, K $ US

After two years of improvement, cross-border shipments of particle board of wood from ECOWAS declined in 2020. Exports amounted to 2 596 K $ US, showing a sharp decrease of 25.1% year-over-year. Between 2017 and 2020, exports fell by 11.6%, equating to an annualized decline of 4.0%. The maximum value was recorded in 2019 at 3 466 K $ US, with the largest increase of 10.3% also occurring that year.

Annual dynamics of product's exports from ECOWAS in value, 2017-2020, K $ US

During 2017–2020, France remained the leading buyer of particle board of wood from ECOWAS, accounting for 70.6% of total exports in value terms. The remaining 29.4% was spread across many other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ECOWAS in value, 2017-2020

Imports particle board of wood to ECOWAS

Imports in kind, m³

The volume of particle board of wood imports into ECOWAS increased for the third consecutive year in 2020. Imports reached 21 661 m³, up by 70.8% compared to the previous year. From 2017 to 2020, imports grew by 141.7%, representing an annualized growth rate of 34.2%.

Annual dynamics of product's imports to ECOWAS in kind, 2017-2020, m³

In the period from 2017 to 2020, the country structure of imports in kind was highly diversified. Turkey (17.0% of imports), China (15.4%), and South Africa (14.6%) together accounted for 47.1% of total flows, while a long tail of smaller markets made up the remaining 52.9%.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ECOWAS in kind, 2017-2020

Imports in value, K $ US

ECOWAS imported a total of 6 464 K $ US of particle board of wood in 2020, marking a sharp rise of 52.4% over the past year. Between 2017 and 2020, imports increased by 121.4%, equating to an annualized growth rate of 30.3%. The largest decline was recorded in 2019 at 0.0%.

Annual dynamics of product's imports to ECOWAS in value, 2017-2020, K $ US

From 2017 to 2020, South Africa (14.1% of imports in value terms), Turkey (14.0%), and Portugal (12.0%) were important suppliers of particle board of wood to ECOWAS. However, their combined share reached only 40.1% of total imports, with the remaining 59.9% distributed among many other partners.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ECOWAS in value, 2017-2020