ECOWAS: Market for Granite, Sandstone And Other Building Stone 2024

Market Size for Granite, Sandstone And Other Building Stone in ECOWAS

The ECOWAS market for granite, sandstone and other building stone fell dramatically to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption showed a perceptible downturn. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Granite, Sandstone And Other Building Stone in ECOWAS

In value terms, production of granite, sandstone and other building stone declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

Exports of Granite, Sandstone And Other Building Stone

Exports in ECOWAS

In 2022, exports of granite, sandstone and other building stone in ECOWAS skyrocketed to X tons, picking up by X% compared with the previous year's figure. In general, exports posted significant growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of granite, sandstone and other building stone skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Liberia dominates stone structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Senegal (X tons), mixing up a X% share of total exports.

Liberia was also the fastest-growing in terms of the granite, sandstone and other building stone exports, with a CAGR of X.3% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Liberia (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Liberia ($X) remains the largest granite, sandstone and other building stone supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Liberia, exports of granite, sandstone and other building stone expanded at an average annual rate of X.3% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Imports of Granite, Sandstone And Other Building Stone

Imports in ECOWAS

In 2022, imports of granite, sandstone and other building stone in ECOWAS declined dramatically to X tons, with a decrease of X% on the previous year's figure. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2015 when imports increased by X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of granite, sandstone and other building stone reduced notably to $X in 2022. Overall, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Benin (X tons) was the main importer of granite, sandstone and other building stone, committing X% of total imports. Liberia (X tons) took the second position in the ranking, distantly followed by Ghana (X tons). All these countries together held near X% share of total imports. The following importers - Guinea-Bissau (X tons), Gambia (X tons) and Cote d'Ivoire (X tons) - together made up X% of total imports.

Benin was also the fastest-growing in terms of the granite, sandstone and other building stone imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Liberia (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Guinea-Bissau experienced a relatively flat trend pattern. By contrast, Gambia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin, Liberia and Ghana increased by X, X and X percentage points, respectively.

In value terms, Benin ($X) constitutes the largest market for imported granite, sandstone and other building stone in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Liberia ($X), with a X% share of total imports. It was followed by Guinea-Bissau, with a X% share.

In Benin, imports of granite, sandstone and other building stone increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Liberia (X% per year) and Guinea-Bissau (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. In general, the import price recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guinea-Bissau ($X per ton), while Liberia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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