ECOWAS: Lime Market 2025

Lime Market Size in ECOWAS

In 2021, the ECOWAS lime market increased by 13% to $X for the first time since 2015, thus ending a five-year declining trend. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Lime Production in ECOWAS

In value terms, lime production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 15%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Lime Exports

Exports in ECOWAS

In 2021, the amount of quicklime, slaked lime and hydraulic lime exported in ECOWAS dropped significantly to X tons, with a decrease of -16.6% against 2020. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 58% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, lime exports fell rapidly to $X in 2021. Overall, exports saw a mild slump. The pace of growth appeared the most rapid in 2019 when exports increased by 45%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, resulting at X tons, which was near 94% of total exports in 2021. It was distantly followed by Mali (X tons), committing a 5.5% share of total exports.

Ghana experienced a relatively flat trend pattern with regard to volume of exports of quicklime, slaked lime and hydraulic lime. At the same time, Mali (+81.0%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +81.0% from 2012-2021. Mali (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -3.9% from 2012 to 2021, respectively.

In value terms, Ghana ($X) remains the largest lime supplier in ECOWAS, comprising 96% of total exports. The second position in the ranking was taken by Mali ($X), with a 3.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana amounted to -1.3%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, shrinking by -5.5% against the previous year. In general, the export price saw a mild decline. The growth pace was the most rapid in 2013 an increase of 5.1% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Mali amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-0.6%).

Lime Imports

Imports in ECOWAS

In 2021, purchases abroad of quicklime, slaked lime and hydraulic lime increased by 29% to X tons, rising for the fourth year in a row after two years of decline. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.8% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lime imports surged to $X in 2021. In general, imports, however, showed a slight shrinkage. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Ghana was the key importing country with an import of about X tons, which accounted for 51% of total imports. Cote d'Ivoire (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (9.2%), Mali (7.5%) and Guinea (5.9%). The following importers - Nigeria (X tons) and Liberia (X tons) - together made up 6.7% of total imports.

From 2012 to 2021, average annual rates of growth with regard to lime imports into Ghana stood at +3.9%. At the same time, Liberia (+23.4%), Cote d'Ivoire (+8.0%), Mali (+5.1%), Nigeria (+3.2%) and Burkina Faso (+1.5%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +23.4% from 2012-2021. By contrast, Guinea (-2.4%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+3.8 p.p.) and Liberia (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Burkina Faso (-2.1 p.p.) and Guinea (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 71% share of total imports. Mali, Guinea, Nigeria and Liberia lagged somewhat behind, together accounting for a further 21%.

Liberia, with a CAGR of +18.6%, saw the highest growth rate of the value of imports, among 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, declining by -8.3% against the previous year. Overall, the import price recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2018 an increase of 1.8%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Burkina Faso ($X per ton), while Ghana ($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 (+4.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform