Report Update Nov 1, 2024

Ghana - Granite Building Stone - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Granite Building Stone Market 2024

Granite Building Stone Market Size in Ghana

In 2021, the Ghanian granite building stone market increased by 42% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a pronounced reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Granite Building Stone Exports

Exports from Ghana

In 2021, approx. X tons of granite building stone were exported from Ghana; increasing by 90% on 2020 figures. Overall, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 283%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, granite building stone exports soared to $X in 2021. Over the period under review, exports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 142%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for granite building stone exports from Ghana, accounting for a 90% share of total exports. Moreover, granite building stone exports to the United States exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for granite building stone exports from Ghana, comprising 93% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, reducing by -13.7% against the previous year. Overall, the export price faced a deep reduction. The growth pace was the most rapid in 2019 an increase of 203% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cote d'Ivoire totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-19.2%).

Granite Building Stone Imports

Imports into Ghana

In 2021, overseas purchases of granite building stone increased by 35% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2020 when imports increased by 64% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, granite building stone imports soared to $X in 2021. Over the period under review, imports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 131%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest granite building stone supplier to Ghana, accounting for a 60% share of total imports. Moreover, granite building stone imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from India totaled +63.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.6% per year) and Italy (+10.2% per year).

In value terms, India ($X), China ($X) and Italy ($X) were the largest granite building stone suppliers to Ghana, with a combined 73% share of total imports.

India, with a CAGR of +56.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average granite building stone import price stood at $X per ton in 2021, growing by 8.8% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, granite building stone import price increased by +53.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.9%), 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 granite building stone in the world?

The countries with the highest volumes of in 2021 were China, South Korea and the United States, with a combined 49% share of global consumption.

What are the largest producers of granite building stone in the world?

China constituted the country with the largest volume of granite building stone production, comprising approx. 46% of total volume. Moreover, granite building stone production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Brazil, with a 6.8% share.

What are the leading suppliers of granite building stone to Ghana?

In value terms, the largest granite building stone suppliers to Ghana were China, India and Italy, with a combined 83% share of total imports.

What are the leading importers of granite building stone from Ghana?

In value terms, the United States emerged as the key foreign market for granite building stone exports from Ghana, comprising 91% of total exports. The second position in the ranking was occupied by Cote d'Ivoire $412), with a 9.3% share of total exports.

What is the average export price for granite building stone in Ghana?

In 2021, the average granite building stone export price amounted to $367 per ton, approximately reflecting the previous year.

What is the average import price for granite building stone in Ghana?

In 2021, the average granite building stone import price amounted to $473 per ton, falling by -12.3% against the previous year.

This report provides an in-depth analysis of the granite building stone 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 23701260 - Worked monumental or building stone and articles thereof, of granite (excluding tiles, cubes and similar articles, of which the largest surface area is capable of being enclosed in a square the side of which is < 7 cm, setts, kerbstones and

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