The production of wood-based panels in Ghana experienced stable output from 2013 through 2019, with values hovering around 183.89 to 188.0 thousand cubic meters. However, in 2020, a significant decline of 27.65% disrupted this stability, dropping production to 136.01 thousand cubic meters. Emerging from this slump, the years 2021 and 2022 saw stabilization at 145.0 thousand cubic meters.
For 2023, production marginally increased by 0.85% to 146.23 thousand cubic meters. From 2024 onwards, forecasts indicate a gradual annual increase, with production expected to reach 152.19 thousand cubic meters by 2028, reflecting a 5-year CAGR of 0.63%.
Future trends to watch for include:
- The impact of economic recovery on production capabilities.
- Government policies and investment in forestry and wood production.
- Technological advancements in wood processing.
