ECOWAS: Market for Marble And Travertine 2024

Market Size for Marble And Travertine in ECOWAS

The ECOWAS marble and travertine crude market expanded slightly to $X in 2022, with an increase of 3% against the previous year. In general, consumption, however, showed a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Marble And Travertine in ECOWAS

In value terms, marble and travertine crude production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by 19% against the previous year. Over the period under review, crude production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Marble And Travertine

Exports in ECOWAS

In 2022, overseas shipments of marble and travertine were finally on the rise to reach X tons after three years of decline. In general, exports, however, recorded a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 877%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, marble and travertine crude exports skyrocketed to $X in 2022. Over the period under review, exports recorded a pronounced expansion. The growth pace was the most rapid in 2018 when exports increased by 644%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the crude exports failed to regain momentum.

Exports by Country

Togo prevails in exports structure, amounting to X tons, which was near 97% of total exports in 2022. Cote d'Ivoire (X kg) took a minor share of total exports.

Togo was also the fastest-growing in terms of the marble and travertine exports, with a CAGR of -4.3% from 2012 to 2022. Cote d'Ivoire (-12.0%) illustrated a downward trend over the same period. While the share of Togo (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-3.4 p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest marble and travertine crude supplier in ECOWAS, comprising 99% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo amounted to +4.6%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by 43% against the previous year. In general, the export price posted prominent growth. The growth pace was the most rapid in 2016 an increase of 614%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Togo ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+9.4%).

Imports of Marble And Travertine

Imports in ECOWAS

In 2022, overseas purchases of marble and travertine decreased by -13.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2013 when imports increased by 277%. Over the period under review, crude imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, marble and travertine crude imports reduced remarkably to $X in 2022. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 205%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) represented the largest importer of marble and travertine, constituting 50% of total imports. Nigeria (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Senegal (X tons) and Togo (X tons). All these countries together took approx. 47% share of total imports. Burkina Faso (X tons) followed a long way behind the leaders.

Imports into Cote d'Ivoire increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, Burkina Faso (+11.5%) and Ghana (+8.5%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +11.5% from 2012-2022. By contrast, Togo (-2.4%), Nigeria (-7.9%) and Senegal (-10.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire and Ghana increased by +39 and +6.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest marble and travertine crude importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined 78% share of total imports. Senegal, Togo and Burkina Faso lagged somewhat behind, together accounting for a further 20%.

In terms of the main importing countries, Burkina Faso, with a CAGR of +31.7%, recorded the highest rates of growth with regard to the value of imports, 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 ECOWAS stood at $X per ton in 2022, shrinking by -24.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 36%. The level of import peaked at $X per ton in 2021, and then declined notably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform