Western Africa: 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 Western Africa

After three years of growth, the West African cement prefabricated structural components market decreased by -8.4% to $X in 2021. In general, consumption, however, continues to indicate prominent growth. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

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

In value terms, cement prefabricated structural components production fell to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 +101.7% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 40%. The level of production peaked at $X in 2020, and then reduced in the following year.

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

Exports in Western Africa

In 2021, overseas shipments of prefabricated structural components of cement, concrete or artificial stone increased by 57% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 146% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, cement prefabricated structural components exports surged to $X in 2021. Over the period under review, exports, however, showed a mild contraction. The growth pace was the most rapid in 2014 when exports increased by 371%. 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

The shipments of the two major exporters of prefabricated structural components of cement, concrete or artificial stone, namely Ghana and Nigeria, represented more than two-thirds of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of +14.1%).

In value terms, Ghana ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2021.

Among the main exporting countries, Nigeria, with a CAGR of 0.0%, 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 export price in Western Africa amounted to $X per ton, which is down by -3.6% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 92%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a 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 Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-15.1%).

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

Imports in Western Africa

In 2021, imports of prefabricated structural components of cement, concrete or artificial stone in Western Africa soared to X tons, growing by 33% against the year before. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 248% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, cement prefabricated structural components imports rose rapidly to $X in 2021. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 357% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which amounted to 51% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a 23% share, followed by Guinea-Bissau (9.5%) and Guinea (6.3%). Senegal (X tons) and Mauritania (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to cement prefabricated structural components imports into Nigeria stood at +53.9%. At the same time, Cote d'Ivoire (+74.7%), Senegal (+56.9%), Mauritania (+47.8%), Guinea-Bissau (+23.7%) and Guinea (+1.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +74.7% from 2012-2021. Nigeria (+42 p.p.), Cote d'Ivoire (+22 p.p.) and Senegal (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Guinea-Bissau and Guinea saw its share reduced by -2.2% and -40.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported prefabricated structural components of cement, concrete or artificial stone in Western Africa, comprising 80% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 8.4% share of total imports. It was followed by Guinea, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +56.2%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+60.1% per year) and Guinea (-10.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, shrinking by -16.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 56%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Guinea-Bissau ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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