Ghana: Market for Granules, Chippings And Powder Of Marble 2024

Market Size for Granules, Chippings And Powder Of Marble in Ghana

After two years of growth, the Ghanian marble granules and powder market decreased by -8.9% to $X in 2021. Overall, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +7.7% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Production of Granules, Chippings And Powder Of Marble in Ghana

In value terms, marble granules and powder production declined to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 84%. Marble granules and powder production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Granules, Chippings And Powder Of Marble

Exports from Ghana

Marble granules and powder exports from Ghana skyrocketed to X tons in 2021, with an increase of 69% against 2020 figures. Over the period under review, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 86%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, marble granules and powder exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 113% against the previous year. Over the period under review, the exports hit record highs 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 marble granules and powder exports from Ghana, with a 76% share of total exports. Moreover, marble granules and powder exports to the United States exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -8.5%.

In value terms, the United States ($X) and Cote d'Ivoire ($X) constituted the largest markets for marble granules and powder exported from Ghana worldwide.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +101.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average marble granules and powder export price amounted to $X per ton, picking up by 18% against the previous year. In general, the export price showed a mild increase. The pace of growth appeared the most rapid in 2014 an increase of 159%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to the United States stood at $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 (+21.9%).

Imports of Granules, Chippings And Powder Of Marble

Imports into Ghana

In 2021, the amount of granules, chippings and powder of marble imported into Ghana declined markedly to X tons, waning by -39.4% compared with 2020. Over the period under review, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 1,405% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, marble granules and powder imports fell dramatically to $X in 2021. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 550%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of marble granules and powder to Ghana, with a 43% share of total imports. Moreover, marble granules and powder imports from Italy exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold. The third position in this ranking was taken by China (X tons), with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-45.7% per year) and China (+99.1% per year).

In value terms, Italy ($X) constituted the largest supplier of granules, chippings and powder of marble to Ghana, comprising 40% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.7% share of total imports. It was followed by Spain, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-28.0% per year) and Spain (+45.5% per year).

Import Prices by Country

The average marble granules and powder import price stood at $X per ton in 2021, growing by 7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2016 an increase of 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+32.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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