ECOWAS: Market for Ready-Mixed Concrete And Factory Made Mortars 2024

Market Size for Ready-Mixed Concrete And Factory Made Mortars in ECOWAS

The ECOWAS market for ready-mixed concrete and factory made mortars expanded rapidly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption saw buoyant growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Ready-Mixed Concrete And Factory Made Mortars in ECOWAS

In value terms, production of ready-mixed concrete and factory made mortars expanded significantly to $X in 2022 estimated in export price. In general, production saw a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Ready-Mixed Concrete And Factory Made Mortars

Exports in ECOWAS

Exports of ready-mixed concrete and factory made mortars expanded sharply to X tons in 2022, rising by X% on 2021. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of ready-mixed concrete and factory made mortars contracted modestly to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

In 2022, Ghana (X tons) was the main exporter of ready-mixed concrete and factory made mortars, constituting X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Senegal (X%). Nigeria (X tons) held a minor share of total exports.

Ghana was also the fastest-growing in terms of the ready-mixed concrete and factory made mortars exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. From 2012 to 2022, the share of Ghana and Cote d'Ivoire increased by X and X percentage points, respectively.

In value terms, Ghana ($X) remains the largest ready-mixed concrete and factory made mortar supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. In general, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Imports of Ready-Mixed Concrete And Factory Made Mortars

Imports in ECOWAS

In 2022, after six years of growth, there was significant decline in purchases abroad of ready-mixed concrete and factory made mortars, when their volume decreased by X% to X tons. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, imports of ready-mixed concrete and factory made mortars dropped to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Senegal (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total imports in 2022. Ghana (X tons) held the next position in the ranking, followed by Guinea (X tons), Nigeria (X tons), Benin (X tons), Sierra Leone (X tons) and Cabo Verde (X tons). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ready-mixed concrete and factory made mortar importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X), with a combined X% share of total imports.

Senegal, with a CAGR of X%, saw the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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

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

Source: IndexBox Platform