Ghana: Market for Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone 2024

Market Size for Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone in Ghana

After three years of growth, the Ghanian cement prefabricated structural components market decreased by -8.2% to $X in 2021. Overall, consumption, however, continues to indicate a prominent expansion. Cement prefabricated structural components consumption peaked at $X in 2020, and then fell in the following year.

Production of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone in Ghana

In value terms, cement prefabricated structural components production contracted to $X in 2021 estimated in export price. In general, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +15.2% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 39%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone

Exports from Ghana

In 2021, the amount of prefabricated structural components of cement, concrete or artificial stone exported from Ghana reduced to X tons, waning by -14.6% compared with the year before. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 157%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cement prefabricated structural components exports amounted to $X in 2021. Over the period under review, exports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2014 with an increase of 412%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria (X tons) was the main destination for cement prefabricated structural components exports from Ghana, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Nigeria totaled +14.1%.

In value terms, Nigeria ($X) also remains the key foreign market for prefabricated structural components of cement, concrete or artificial stone exports from Ghana.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria stood at -3.1%.

Export Prices by Country

In 2021, the average cement prefabricated structural components export price amounted to $X per ton, rising by 18% against the previous year. In general, the export price, however, saw a abrupt decrease. The growth pace was the most rapid in 2014 when the average export price increased by 99%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to -15.1% per year.

Imports of Prefabricated Structural Components Of Cement, Concrete Or Artificial Stone

Imports into Ghana

In 2021, supplies from abroad of prefabricated structural components of cement, concrete or artificial stone increased by 220% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 715% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, cement prefabricated structural components imports soared to $X in 2021. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 140% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), Brazil (X tons) and Australia (X tons) were the main suppliers of cement prefabricated structural components imports to Ghana, with a combined 59% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +104.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of prefabricated structural components of cement, concrete or artificial stone to Ghana, comprising 82% of total imports. The second position in the ranking was taken by Brazil ($X), with a 4.5% share of total imports. It was followed by Spain, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +56.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+112.9% per year) and Spain (+54.6% per year).

Import Prices by Country

The average cement prefabricated structural components import price stood at $X per ton in 2021, with a decrease of -33.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 140%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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