ECOWAS: Quicklime Market 2024

Quicklime Market Size in ECOWAS

The ECOWAS quicklime market shrank to $X in 2022, leveling off at the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.9% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Quicklime Production in ECOWAS

In value terms, quicklime production reduced to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +8.5% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 39% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Quicklime Exports

Exports in ECOWAS

In 2022, overseas shipments of quicklime were finally on the rise to reach X tons after two years of decline. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 59%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, quicklime exports rose markedly to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -7.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 45% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana dominates exports structure, reaching X tons, which was near 95% of total exports in 2022. It was distantly followed by Mali (X tons), generating a 4.8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to quicklime exports from Ghana stood at +6.3%. At the same time, Mali (+62.3%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +62.3% from 2012-2022. Mali (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -2% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest quicklime supplier in ECOWAS, comprising 97% of total exports. The second position in the ranking was held by Mali ($X), with a 3% share of total exports.

In Ghana, quicklime exports expanded at an average annual rate of +5.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by 3.2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 7.6%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

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 Ghana ($X per ton), while Mali stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+0.4%).

Quicklime Imports

Imports in ECOWAS

In 2022, imports of quicklime in ECOWAS rose markedly to X tons, increasing by 13% compared with the previous year's figure. In general, imports showed a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 52% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, quicklime imports skyrocketed to $X in 2022. Overall, imports saw a modest expansion. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Ghana (X tons) was the largest importer of quicklime, achieving 56% of total imports. Guinea (X tons) held the second position in the ranking, followed by Burkina Faso (X tons), Mali (X tons) and Cote d'Ivoire (X tons). All these countries together took near 39% share of total imports.

Imports into Ghana increased at an average annual rate of +3.7% from 2012 to 2022. At the same time, Burkina Faso (+11.7%), Mali (+10.9%), Cote d'Ivoire (+7.2%) and Guinea (+5.7%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +11.7% from 2012-2022. From 2012 to 2022, the share of Burkina Faso and Mali increased by +5.9 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest quicklime importing markets in ECOWAS were Ghana ($X), Burkina Faso ($X) and Guinea ($X), together accounting for 82% of total imports.

Among the main importing countries, Burkina Faso, with a CAGR of +10.7%, saw 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

In 2022, the import price in ECOWAS amounted to $X per ton, surging by 8% against the previous year. Overall, the import price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 8.4% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform