ECOWAS: Marble Building Stone Market 2024

Marble Building Stone Market Size in ECOWAS

The ECOWAS marble building stone market contracted rapidly to $X in 2021, waning by -37.5% against the previous year. Overall, consumption, however, showed a remarkable increase. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Marble Building Stone Production in ECOWAS

In value terms, marble building stone production shrank to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Marble Building Stone Exports

Exports in ECOWAS

In 2021, the amount of marble building stone exported in ECOWAS soared to X tons, with an increase of 196% against the year before. Overall, exports posted buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, marble building stone exports soared to $X in 2021. In general, exports recorded a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 255% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the six major exporters of marble building stone, namely Benin, Ghana, Togo, Senegal, Nigeria and Sierra Leone, represented more than two-thirds of total export. Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of +130.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest marble building stone supplying countries in ECOWAS were Sierra Leone ($X), Senegal ($X) and Nigeria ($X), together comprising 75% of total exports. These countries were followed by Togo, Niger, Ghana and Benin, which together accounted for a further 22%.

Niger, with a CAGR of +57.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, reducing by -30.4% against the previous year. Over the period under review, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2014 when the export price increased by 55% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+16.0%), while the other leaders experienced a decline in the export price figures.

Marble Building Stone Imports

Imports in ECOWAS

In 2021, the amount of marble building stone imported in ECOWAS reduced markedly to X tons, falling by -24.7% on the previous year. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 51%. Over the period under review, imports attained the peak figure at X tons in 2020, and then contracted markedly in the following year.

In value terms, marble building stone imports contracted sharply to $X in 2021. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. As a result, imports attained the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2021, Nigeria (X tons), distantly followed by Ghana (X tons), Cabo Verde (X tons), Cote d'Ivoire (X tons) and Guinea (X tons) represented the largest importers of marble building stone, together mixing up 83% of total imports. The following importers - Benin (X tons) and Senegal (X tons) - each accounted for a 5.9% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Benin (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest marble building stone importing markets in ECOWAS were Ghana ($X), Guinea ($X) and Nigeria ($X), together accounting for 70% of total imports. These countries were followed by Cabo Verde, Cote d'Ivoire, Benin and Senegal, which together accounted for a further 17%.

In terms of the main importing countries, Benin, with a CAGR of +26.3%, recorded the highest growth rate of 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 2021, with a decrease of -41.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform