Report Update Nov 1, 2024

ECOWAS - Granite (Crude) - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Crude Granite Market 2024

Crude Granite Market Size in ECOWAS

The ECOWAS crude granite market declined to $X in 2022, reducing by -8.1% against the previous year. In general, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Crude Granite Production in ECOWAS

In value terms, crude granite production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 94%. Over the period under review, production attained the maximum level at $X in 2021, and then fell in the following year.

Crude Granite Exports

Exports in ECOWAS

In 2022, overseas shipments of granite (crude) decreased by -47.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 2,163%. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, crude granite exports dropped dramatically to $X in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 2,449%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Nigeria (X tons) represented roughly 98% of total exports in 2022.

Nigeria was also the fastest-growing in terms of the granite (crude) exports, with a CAGR of +285.5% from 2012 to 2022. From 2012 to 2022, the share of Nigeria increased by +97 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest crude granite supplier in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +285.5%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price, however, posted a perceptible expansion. The pace of growth was the most pronounced in 2013 an increase of 77%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to 0.0% per year.

Crude Granite Imports

Imports in ECOWAS

In 2022, supplies from abroad of granite (crude) decreased by -42.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 557% against the previous year. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, crude granite imports shrank markedly to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 823%. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which accounted for 67% of total imports. Niger (X tons) held the second position in the ranking, distantly followed by Burkina Faso (X tons). All these countries together held approx. 29% share of total imports. Gambia (X tons) held a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +40.2% from 2012 to 2022. At the same time, Niger (+74.2%), Burkina Faso (+33.3%) and Gambia (+23.4%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +74.2% from 2012-2022. Nigeria (+39 p.p.), Niger (+19 p.p.) and Burkina Faso (+3.1 p.p.) significantly strengthened 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, Nigeria ($X) constitutes the largest market for imported granite (crude) in ECOWAS, comprising 69% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 14% share of total imports. It was followed by Niger, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +36.0%. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+48.2% per year) and Niger (+27.8% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, which is down by -3.8% against the previous year. Over the period under review, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of 41%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Niger ($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 (+11.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the crude granite market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 08111233 - Granite, crude or roughly trimmed

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023