Western Africa: Oriented Strandboard (Osb) Market 2024

Oriented Strandboard (Osb) Market Size in Western Africa

In 2023, the West African oriented strandboard (OSB) market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption showed a slight setback. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Oriented Strandboard (Osb) Production in Western Africa

In value terms, oriented strandboard (OSB) production skyrocketed to $X in 2023 estimated in export price. Overall, production continues to indicate a mild reduction. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Oriented Strandboard (Osb) Exports

Exports in Western Africa

In 2023, shipments abroad of oriented strandboard (OSB) decreased by X% to X cubic meters for the first time since 2020, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X cubic meters in 2022, and then shrank dramatically in the following year.

In value terms, oriented strandboard (OSB) exports fell significantly to $X in 2023. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2022, and then dropped markedly in the following year.

Exports by Country

In 2023, Nigeria (X cubic meters), followed by Togo (X cubic meters) represented the largest exporters of oriented strandboard (OSB), together committing X% of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Togo (with a CAGR of X%).

In value terms, Togo ($X) emerged as the largest oriented strandboard (OSB) supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2013 to 2023, the average annual growth rate of value in Togo was relatively modest.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per cubic meter, declining by X% against the previous year. In general, the export price, however, posted strong growth. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. As a result, the export price reached the peak level of $X per cubic meter. From 2021 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Togo ($X per cubic meter), while Nigeria stood at $X per cubic meter.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Oriented Strandboard (Osb) Imports

Imports in Western Africa

In 2023, approx. X cubic meters of oriented strandboard (OSB) were imported in Western Africa; with a decrease of X% against the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X cubic meters. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, oriented strandboard (OSB) imports reduced markedly to $X in 2023. Overall, imports recorded a slight decrease. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Ghana dominates imports structure, accounting for X cubic meters, which was approx. X% of total imports in 2023. Nigeria (X cubic meters) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%). Cabo Verde (X cubic meters) took a little share of total imports.

Ghana was also the fastest-growing in terms of the oriented strandboard (OSB) imports, with a CAGR of X% from 2012 to 2023. Cabo Verde (X%), Guinea (X%) and Nigeria (X%) illustrated a downward trend over the same period. Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde, Guinea and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana totaled X%. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per cubic meter in 2023, jumping by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2015 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per cubic meter), while Nigeria ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform