ECOWAS: Market for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates 2024

Market Size for Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in ECOWAS

In 2021, the ECOWAS market for gravel, pebbles and crushed stone for concrete and road aggregates was finally on the rise to reach $X after two years of decline. The total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.6% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates in ECOWAS

In value terms, production of gravel, pebbles and crushed stone for concrete and road aggregates amounted to $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -31.4% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 42% against the previous year. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Exports in ECOWAS

In 2021, the amount of gravel, pebbles and crushed stone for concrete and road aggregates exported in ECOWAS surged to X tons, picking up by 159% on the year before. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 167%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, exports of gravel, pebbles and crushed stone for concrete and road aggregates skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 170%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of gravel, pebbles and crushed stone for concrete and road aggregates, namely Senegal, represented more than two-thirds of total export.

Senegal was also the fastest-growing in terms of the gravel, pebbles and crushed stone for concrete and road aggregates exports, with a CAGR of +8.1% from 2012 to 2021. Senegal (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest gravel, pebbles and crushed stone for concrete and road aggregates supplier in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to -1.8%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, which is down by -17.2% against the previous year. Over the period under review, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2017 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to -9.4% per year.

Imports of Gravel, Pebbles And Crushed Stone for Concrete and Road Aggregates

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in supplies from abroad of gravel, pebbles and crushed stone for concrete and road aggregates, when their volume decreased by -77.2% to X tons. Overall, imports, however, continue to indicate a noticeable increase. The growth pace was the most rapid in 2020 with an increase of 1,335%. Over the period under review, imports of reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of gravel, pebbles and crushed stone for concrete and road aggregates reduced remarkably to $X in 2021. In general, imports, however, recorded tangible growth. The most prominent rate of growth was recorded in 2020 when imports increased by 560%. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

Gambia represented the major importing country with an import of about X tons, which amounted to 63% of total imports. It was distantly followed by Guinea-Bissau (X tons), achieving a 26% share of total imports. The following importers - Cote d'Ivoire (X tons) and Guinea (X tons) - together made up 5.1% of total imports.

Imports into Gambia increased at an average annual rate of +6.2% from 2012 to 2021. At the same time, Cote d'Ivoire (+29.9%) and Guinea (+14.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +29.9% from 2012-2021. By contrast, Guinea-Bissau (-1.5%) illustrated a downward trend over the same period. While the share of Gambia (+15 p.p.) and Cote d'Ivoire (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Guinea-Bissau (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X), Cote d'Ivoire ($X) and Guinea-Bissau ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 63% of total imports.

Cote d'Ivoire, with a CAGR of +30.3%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 61% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 662%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform