ECOWAS: Copper Foil Market 2025

Copper Foil Market Size in ECOWAS

The ECOWAS copper foil market expanded slightly to $X in 2022, increasing by 3.8% against the previous year. In general, consumption, however, recorded a mild downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Copper Foil Production in ECOWAS

In value terms, copper foil production rose slightly to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2019 with an increase of 83% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Copper Foil Exports

Exports in ECOWAS

After four years of growth, overseas shipments of copper foil decreased by -18.9% to X tons in 2022. Overall, exports, however, saw resilient growth. The growth pace was the most rapid in 2019 with an increase of 477% against the previous year. The volume of export peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, copper foil exports reduced to $X in 2022. Over the period under review, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 604% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) represented roughly 99.9% of total exports in 2022.

Nigeria was also the fastest-growing in terms of the copper foil exports, with a CAGR of +19.3% from 2012 to 2022. Nigeria (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest copper foil supplier in ECOWAS.

In Nigeria, copper foil exports decreased by an average annual rate of -4.3% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price, however, faced a deep contraction. The pace of growth was the most pronounced in 2019 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -19.7% per year.

Copper Foil Imports

Imports in ECOWAS

After two years of decline, overseas purchases of copper foil increased by 10% to X tons in 2022. Overall, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 127% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, copper foil imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 when imports increased by 147% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria (X tons) and Gambia (X tons) were the main importers of copper foil in 2022, accounting for approx. 34% and 33% of total imports, respectively. Benin (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Togo (7.3%) and Ghana (5.9%). Guinea (X kg) and Burkina Faso (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper foil importing markets in ECOWAS were Nigeria ($X), Benin ($X) and Togo ($X), together comprising 67% of total imports.

Togo, with a CAGR of +28.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 ECOWAS amounted to $X per ton, picking up by 4.8% against the previous year. Over the period under review, the import price showed noticeable growth. The growth pace was the most rapid in 2017 an increase of 108% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 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 Nigeria (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform