Report Update Nov 1, 2024

Ghana - Cement - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Cement Market 2024

Cement Market Size in Ghana

The Ghanian cement market fell rapidly to $X in 2022, waning by -23.9% against the previous year. In general, consumption posted a tangible expansion. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Cement Production in Ghana

In value terms, cement production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +12.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 38%. Over the period under review, production reached the peak level at $X in 2021, and then reduced in the following year.

Cement Exports

Exports from Ghana

In 2022, shipments abroad of cement 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, showed a sharp shrinkage. The growth pace was the most rapid in 2015 when exports increased by 150% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cement exports shrank sharply to $X in 2022. Over the period under review, exports, however, faced a sharp downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 92%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for cement exports from Ghana, with a 88% share of total exports. Moreover, cement exports to Togo exceeded the volume sent to the second major destination, Turkey (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Togo amounted to +4.6%.

In value terms, the largest markets for cement exported from Ghana were Turkey ($X) and Togo ($X).

In terms of the main countries of destination, Turkey, with a CAGR of +89.9%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average cement export price stood at $X per ton in 2022, falling by -27.3% against the previous year. In general, the export price, however, showed pronounced growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 111%. The export price peaked at $X per ton in 2021, and then contracted markedly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Togo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+33.8%), while the prices for the other major destinations experienced mixed trend patterns.

Cement Imports

Imports into Ghana

In 2022, the amount of cement imported into Ghana contracted to X tons, remaining relatively unchanged against 2021. Overall, imports saw a noticeable decline. The pace of growth was the most pronounced in 2015 with an increase of 87%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, cement imports shrank to $X in 2022. Over the period under review, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of 129% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Egypt (X tons), Turkey (X tons) and China (X tons) were the main suppliers of cement imports to Ghana, with a combined 98% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +69.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Egypt ($X) constituted the largest supplier of cement to Ghana, comprising 72% of total imports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Egypt totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+30.7% per year) and China (-46.7% per year).

Import Prices by Country

The average cement import price stood at $X per ton in 2022, reducing by -5.3% against the previous year. In general, the import price saw a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the average import price increased by 22% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cement in the world?

China remains the largest cement consuming country worldwide, accounting for 56% of total volume. Moreover, cement consumption in China exceeded the figures recorded by the second-largest consumer, India, sevenfold. The United States ranked third in terms of total consumption with a 2.9% share.

What are the largest producers of cement in the world?

The country with the largest volume of cement production was China, comprising approx. 56% of total volume. Moreover, cement production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. The third position in this ranking was occupied by the United States, with a 2.4% share.

What are the leading suppliers of cement to Ghana?

In value terms, Turkey constituted the largest supplier of cement to Ghana, comprising 70% of total imports. The second position in the ranking was occupied by Egypt, with a 27% share of total imports.

What are the leading importers of cement from Ghana?

In value terms, Burkina Faso emerged as the key foreign market for cement exports from Ghana, comprising 90% of total exports. The second position in the ranking was occupied by Togo, with a 9.1% share of total exports.

What is the average export price for cement in Ghana?

The average cement export price stood at $94 per ton in 2021, waning by -23.4% against the previous year.

What is the average import price for cement in Ghana?

The average cement import price stood at $31 per ton in 2021, increasing by 2.5% against the previous year.

This report provides an in-depth analysis of the cement market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23511210 - Portland cement
Prodcom 23511290 - Other hydraulic cements

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023