ECOWAS: Construction Sands Market 2024

Construction Sands Market Size in ECOWAS

The ECOWAS construction sands market contracted slightly to $X in 2022, waning by -1.5% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Construction Sands Production in ECOWAS

In value terms, construction sands production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 42% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Construction Sands Exports

Exports in ECOWAS

In 2022, exports of construction sands in ECOWAS declined sharply to X tons, with a decrease of -15.6% compared with the previous year's figure. In general, exports showed a noticeable decline. The pace of growth appeared the most rapid in 2019 when exports increased by 388% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, construction sands exports dropped significantly to $X in 2022. Over the period under review, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 63% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Gambia prevails in exports structure, finishing at X tons, which was near 90% of total exports in 2022. It was distantly followed by Nigeria (X tons), achieving a 7.5% share of total exports.

Exports from Gambia decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Nigeria (+2.7%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +2.7% from 2012-2022. While the share of Nigeria (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Gambia (-4.4 p.p.) displayed negative dynamics.

In value terms, Gambia ($X) remains the largest construction sands supplier in ECOWAS, comprising 78% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 9.7% share of total exports.

In Gambia, construction sands exports shrank by an average annual rate of -2.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by -4.3% against the previous year. In general, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of 158% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Gambia (+0.9%).

Construction Sands Imports

Imports in ECOWAS

In 2022, construction sands imports in ECOWAS soared to X tons, with an increase of 44% against the previous year's figure. In general, imports, however, saw a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 131% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, construction sands imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by 109%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Cabo Verde prevails in imports structure, recording X tons, which was approx. 91% of total imports in 2022. The following importers - Nigeria (X tons), Senegal (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) - each recorded a 6.5% share of total imports.

Imports into Cabo Verde decreased at an average annual rate of -9.4% from 2012 to 2022. At the same time, Cote d'Ivoire (+6.2%) and Senegal (+2.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +6.2% from 2012-2022. By contrast, Nigeria (-6.0%) and Ghana (-10.8%) illustrated a downward trend over the same period. Cabo Verde (-3.6 p.p.) significantly weakened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest construction sands importing markets in ECOWAS were Nigeria ($X), Cabo Verde ($X) and Cote d'Ivoire ($X), with a combined 85% share of total imports.

Cote d'Ivoire, with a CAGR of +10.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of 26% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, construction sands import price increased by +87.9% against 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform