ECOWAS: Market for Limestone Flux, Limestone And Calcareous Stone 2024

Market Size for Limestone Flux, Limestone And Calcareous Stone in ECOWAS

The ECOWAS limestone flux and limestone market shrank slightly to $X in 2022, which is down by -1.5% against the previous year. Overall, consumption, however, recorded a slight shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Limestone Flux, Limestone And Calcareous Stone in ECOWAS

In value terms, limestone flux and limestone production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 16% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Limestone Flux, Limestone And Calcareous Stone

Exports in ECOWAS

In 2022, shipments abroad of limestone flux, limestone and calcareous stone was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, limestone flux and limestone exports rose significantly to $X in 2022. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 39%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Togo (X tons), together recording 99% of total export.

Togo was also the fastest-growing in terms of the limestone flux, limestone and calcareous stone exports, with a CAGR of -3.1% from 2012 to 2022. From 2012 to 2022, the share of Togo increased by +5.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) also remains the largest limestone flux and limestone supplier in ECOWAS.

In Togo, limestone flux and limestone exports shrank by an average annual rate of -5.8% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by -4.7% against the previous year. In general, the export price recorded a noticeable slump. The pace of growth appeared the most rapid in 2021 an increase of 8.5% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Togo amounted to -2.8% per year.

Imports of Limestone Flux, Limestone And Calcareous Stone

Imports in ECOWAS

In 2022, approx. X tons of limestone flux, limestone and calcareous stone were imported in ECOWAS; rising by 15% on 2021 figures. Over the period under review, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 87% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, limestone flux and limestone imports soared to $X in 2022. Overall, imports saw perceptible growth. The most prominent rate of growth was recorded in 2015 with an increase of 108%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire was the major importer of limestone flux, limestone and calcareous stone in ECOWAS, with the volume of imports finishing at X tons, which was approx. 57% of total imports in 2022. Ghana (X tons) ranks second in terms of the total imports with a 13% share, followed by Guinea (13%), Liberia (11%) and Sierra Leone (6%).

Cote d'Ivoire was also the fastest-growing in terms of the limestone flux, limestone and calcareous stone imports, with a CAGR of +32.6% from 2012 to 2022. At the same time, Liberia (+28.6%), Guinea (+17.2%), Sierra Leone (+5.4%) and Ghana (+2.4%) displayed positive paces of growth. Cote d'Ivoire (+45 p.p.), Liberia (+8 p.p.) and Guinea (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while Sierra Leone and Ghana saw its share reduced by -6.3% and -22.5% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported limestone flux, limestone and calcareous stone in ECOWAS, comprising 60% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Guinea, with a 9.2% share.

In Cote d'Ivoire, limestone flux and limestone imports expanded at an average annual rate of +21.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (-8.0% per year) and Guinea (+17.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of 4.3% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the import price increased by 12% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Ghana ($X per ton), while Liberia ($X per ton) and Guinea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform