Western Africa: Sandstone Market 2024

Sandstone Market Size in Western Africa

The West African sandstone market stood at $X in 2022, growing by 1.7% against the previous year. Overall, consumption, however, faced a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sandstone Production in Western Africa

In value terms, sandstone production rose to $X in 2022 estimated in export price. In general, production, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sandstone Exports

Exports in Western Africa

In 2022, approx. X tons of sandstone were exported in Western Africa; rising by 9.2% against the previous year's figure. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 25,532% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sandstone exports expanded modestly to $X in 2022. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 21,127%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the major exporter of sandstone in Western Africa, with the volume of exports amounting to X tons, which was near 63% of total exports in 2022. It was distantly followed by Senegal (X tons), achieving a 34% share of total exports. Nigeria (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +82.5%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X) remains the largest sandstone supplier in Western Africa, comprising 76% of total exports. The second position in the ranking was taken by Senegal ($X), with a 21% share of total exports.

In Ghana, sandstone exports increased at an average annual rate of +57.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-13.4% per year) and Nigeria (+39.7% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by -4.2% against the previous year. In general, the export price saw a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 42%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-12.5%).

Sandstone Imports

Imports in Western Africa

In 2022, the amount of sandstone imported in Western Africa contracted dramatically to X tons, falling by -40.8% on the previous year. Over the period under review, imports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2014 when imports increased by 453% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sandstone imports shrank sharply to $X in 2022. In general, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 172%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) was the key importer of sandstone, constituting 67% of total imports. It was distantly followed by Benin (X tons) and Cote d'Ivoire (X tons), together constituting a 21% share of total imports. Senegal (X tons), Togo (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sandstone imports into Nigeria stood at -6.5%. At the same time, Benin (+29.2%), Cote d'Ivoire (+27.7%), Togo (+10.7%), Senegal (+5.6%) and Niger (+5.4%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +29.2% from 2012-2022. Benin (+14 p.p.), Cote d'Ivoire (+6.4 p.p.), Togo (+2.7 p.p.), Senegal (+2.4 p.p.) and Niger (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -19% from 2012 to 2022, respectively.

In value terms, the largest sandstone importing markets in Western Africa were Nigeria ($X), Benin ($X) and Togo ($X), together comprising 75% of total imports.

Benin, with a CAGR of +27.6%, saw the highest growth rate of 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

The import price in Western Africa stood at $X per ton in 2022, growing by 31% against the previous year. Over the period under review, the import price, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2013 an increase of 137%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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