Western Africa: Market for Limestone Flux, Limestone And Calcareous Stone 2024

Market Size for Limestone Flux, Limestone And Calcareous Stone in Western Africa

The West African limestone flux and limestone market fell slightly to $X in 2022, reducing by -1.5% against the previous year. In general, consumption, however, showed a slight downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Limestone Flux, Limestone And Calcareous Stone in Western Africa

In value terms, limestone flux and limestone production contracted slightly to $X in 2022 estimated in export price. Overall, production showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Limestone Flux, Limestone And Calcareous Stone

Exports in Western Africa

In 2022, shipments abroad of limestone flux, limestone and calcareous stone was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a perceptible descent. The pace of growth was the most pronounced in 2019 when exports increased by 48% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, limestone flux and limestone exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 39% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Togo (X tons) was the largest exporter of limestone flux, limestone and calcareous stone in Western Africa, committing 99% of total export.

Togo was also the fastest-growing in terms of the limestone flux, limestone and calcareous stone exports, with a CAGR of -3.1% from 2012 to 2022. While the share of Togo (+5.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) also remains the largest limestone flux and limestone supplier in Western Africa.

From 2012 to 2022, the average annual growth rate of value in Togo totaled -5.8%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, which is down by -4.7% against the previous year. Overall, the export price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2021 an increase of 8.5% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Togo amounted to -2.8% per year.

Imports of Limestone Flux, Limestone And Calcareous Stone

Imports in Western Africa

Limestone flux and limestone imports expanded significantly to X tons in 2022, growing by 15% on the previous year. Over the period under review, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 87%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, limestone flux and limestone imports skyrocketed to $X in 2022. In general, imports recorded a notable expansion. The pace of growth was the most pronounced in 2015 with an increase of 107% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) represented the key importer of limestone flux, limestone and calcareous stone, mixing up 57% of total imports. Ghana (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (13%), Liberia (11%) and Sierra Leone (6%).

Cote d'Ivoire was also the fastest-growing in terms of the limestone flux, limestone and calcareous stone imports, with a CAGR of +32.6% from 2012 to 2022. At the same time, Liberia (+28.6%), Guinea (+17.2%), Sierra Leone (+5.4%) and Ghana (+2.4%) displayed positive paces of growth. From 2012 to 2022, the share of Cote d'Ivoire, Liberia and Guinea increased by +45, +8 and +3.7 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported limestone flux, limestone and calcareous stone in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Guinea, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +21.2%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-8.0% per year) and Guinea (+17.9% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, growing by 4.3% against the previous year. Overall, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Ghana ($X per ton), while Liberia ($X per ton) and Guinea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform