Western Africa: Cement Market 2025

Cement Market Size in Western Africa

In 2022, after two years of growth, there was significant decline in the West African cement market, when its value decreased by -11.5% to $X. Over the period under review, consumption, however, showed a noticeable decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Cement Production in Western Africa

In value terms, cement production expanded sharply to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +18.7% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 17% against the previous year. The level of production peaked in 2022 and is expected to retain growth in years to come.

Cement Exports

Exports in Western Africa

In 2022, overseas shipments of cement increased by 29% to X tons, rising for the second year in a row after three years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cement exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 45% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the three major exporters of cement, namely Senegal, Burkina Faso and Nigeria, represented more than two-thirds of total export. The following exporters - Gambia (X tons) and Togo (X tons) - each finished at a 4.1% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Gambia (with a CAGR of +578.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest cement supplying countries in Western Africa were Senegal ($X), Burkina Faso ($X) and Nigeria ($X), with a combined 93% share of total exports. Togo and Gambia lagged somewhat behind, together comprising a further 4.3%.

Among the main exporting countries, Gambia, with a CAGR of +386.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, shrinking by -3.5% against the previous year. Overall, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2018 when the export price increased by 10%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood 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 Togo ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-0.9%), while the other leaders experienced a decline in the export price figures.

Cement Imports

Imports in Western Africa

In 2022, overseas purchases of cement increased by 1.1% to X tons, rising for the third year in a row after two years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 13% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, cement imports rose significantly to $X in 2022. In general, imports, however, saw a perceptible descent. The growth pace was the most rapid in 2021 when imports increased by 14%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Mali represented the largest importing country with an import of around X tons, which amounted to 32% of total imports. Niger (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Sierra Leone (12%), Cabo Verde (10%), Ghana (8.7%), Gambia (7.9%) and Togo (5.1%).

Imports into Mali increased at an average annual rate of +2.2% from 2012 to 2022. At the same time, Togo (+77.8%), Sierra Leone (+23.1%), Gambia (+10.1%), Niger (+9.7%) and Cabo Verde (+8.4%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +77.8% from 2012-2022. By contrast, Ghana (-3.1%) illustrated a downward trend over the same period. While the share of Sierra Leone (+10 p.p.), Niger (+7.6 p.p.), Mali (+6.8 p.p.), Cabo Verde (+5.9 p.p.), Togo (+5.1 p.p.) and Gambia (+4.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-3 p.p.) displayed negative dynamics.

In value terms, the largest cement importing markets in Western Africa were Mali ($X), Niger ($X) and Cabo Verde ($X), together accounting for 64% of total imports. Sierra Leone, Togo, Gambia and Ghana lagged somewhat behind, together accounting for a further 22%.

Among the main importing countries, Togo, with a CAGR of +60.5%, recorded the highest rates of growth with regard to the value of imports, 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 Western Africa amounted to $X per ton, with an increase of 4.4% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the import price increased by 12%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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