Western Africa: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Western Africa

The West African gravel and crushed stone market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Gravel And Crushed Stone in Western Africa

In value terms, gravel and crushed stone production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Exports of Gravel And Crushed Stone

Exports in Western Africa

In 2021, exports of gravel and crushed stone in Western Africa rose rapidly to X tons, increasing by 6.5% compared with the previous year's figure. In general, exports, however, saw a noticeable slump. The growth pace was the most rapid in 2015 with an increase of 489%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, gravel and crushed stone exports soared to $X in 2021. Over the period under review, exports recorded a moderate increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,485%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana represented the major exporter of gravel and crushed stone in Western Africa, with the volume of exports reaching X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Senegal (X tons), making up a 17% share of total exports.

Ghana was also the fastest-growing in terms of the gravel and crushed stone exports, with a CAGR of +69.4% from 2012 to 2021. Senegal (-19.2%) illustrated a downward trend over the same period. While the share of Ghana (+80 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-77.3 p.p.) displayed negative dynamics.

In value terms, the largest gravel and crushed stone supplying countries in Western Africa were Senegal ($X) and Ghana ($X).

Among the main exporting countries, Ghana, with a CAGR of +64.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, growing by 44% against the previous year. In general, the export price showed a resilient increase. The most prominent rate of growth was recorded in 2015 an increase of 169% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+21.5%).

Imports of Gravel And Crushed Stone

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in purchases abroad of gravel and crushed stone, which increased by 57% to X tons in 2021. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 239% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, gravel and crushed stone imports skyrocketed to $X in 2021. Over the period under review, imports recorded temperate growth. The most prominent rate of growth was recorded in 2015 when imports increased by 85% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Mauritania prevails in imports structure, resulting at X tons, which was near 77% of total imports in 2021. It was distantly followed by Togo (X tons), creating a 9.8% share of total imports. Cote d'Ivoire (X tons), Gambia (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to gravel and crushed stone imports into Mauritania stood at +45.6%. At the same time, Ghana (+48.7%), Cote d'Ivoire (+28.7%), Gambia (+8.9%) and Togo (+8.4%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +48.7% from 2012-2021. While the share of Mauritania (+58 p.p.) and Ghana (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Gambia (-7.8 p.p.) and Togo (-23.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X) constitutes the largest market for imported gravel and crushed stone in Western Africa, comprising 57% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 12% share of total imports. It was followed by Ghana, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mauritania stood at +33.3%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+24.5% per year) and Ghana (+41.2% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, shrinking by -14.2% against the previous year. In general, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 100% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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