Report Update Apr 1, 2025

ECOWAS - Copper - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Copper Market 2025

Copper Market Size in ECOWAS

In 2022, the ECOWAS copper market increased by 67% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption showed a moderate expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Copper Production in ECOWAS

In value terms, copper production rose slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 12%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Copper Exports

Exports in ECOWAS

In 2022, shipments abroad of copper increased by 66% to X tons, rising for the fourth year in a row after three years of decline. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 547%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, copper exports fell notably to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 488%. The level of export peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Togo was the largest exporter of copper in ECOWAS, with the volume of exports amounting to X tons, which was near 72% of total exports in 2022. It was distantly followed by Nigeria (X tons), comprising a 27% share of total exports.

Togo was also the fastest-growing in terms of the copper exports, with a CAGR of +179.6% from 2012 to 2022. Nigeria experienced a relatively flat trend pattern. From 2012 to 2022, the share of Togo increased by +72 percentage points.

In value terms, Nigeria ($X) remains the largest copper supplier in ECOWAS, comprising 96% of total exports. The second position in the ranking was held by Togo ($X), with a 2.7% share of total exports.

In Nigeria, copper exports shrank by an average annual rate of -1.2% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, reducing by -53% against the previous year. In general, the export price faced a abrupt setback. The growth pace was the most rapid in 2014 when the export price increased by 95% 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Togo amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-1.4%).

Copper Imports

Imports in ECOWAS

In 2022, approx. X tons of copper were imported in ECOWAS; shrinking by -8.4% on the previous year. Over the period under review, imports, however, showed a slight increase. The pace of growth appeared the most rapid in 2021 with an increase of 237%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, copper imports dropped rapidly to $X in 2022. In general, imports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 393% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria (X tons) and Niger (X tons) represented roughly 66% of total imports in 2022. Liberia (X tons) ranks next in terms of the total imports with a 10% share, followed by Togo (6.9%) and Ghana (5.9%). Senegal (X tons) and Guinea (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Niger (with a CAGR of +47.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported copper in ECOWAS, comprising 50% of total imports. The second position in the ranking was taken by Ghana ($X), with a 16% share of total imports. It was followed by Liberia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to +6.5%. In the other countries, the average annual rates were as follows: Ghana (-7.3% per year) and Liberia (+30.6% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, dropping by -26% against the previous year. In general, the import price, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2017 when the import price increased by 174%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+9.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the copper market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Niger
Nigeria
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in ECOWAS, split by region and country
Trade (exports and imports) in ECOWAS
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption, By Country, 2018–2024
5. Production, In Physical Terms, By Country, 2012–2024
6. Imports, In Physical Terms, By Country, 2012–2024
7. Imports, In Value Terms, By Country, 2012–2024
8. Import Prices, By Country Of Destination, 2012–2024
9. Exports, In Physical Terms, By Country, 2012–2024
10. Exports, In Value Terms, By Country, 2012–2024
11. Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Consumption, By Country, 2024
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2024
18. Production, In Value Terms, 2012–2024
19. Production, By Country, 2024
20. Production, In Physical Terms, By Country, 2012–2024
21. Imports, In Physical Terms, 2012–2024
22. Imports, In Value Terms, 2012–2024
23. Imports, In Physical Terms, By Country, 2024
24. Imports, In Physical Terms, By Country, 2012–2024
25. Imports, In Value Terms, By Country, 2012–2024
26. Import Prices, By Country, 2012–2024
27. Exports, In Physical Terms, 2012–2024
28. Exports, In Value Terms, 2012–2024
29. Exports, In Physical Terms, By Country, 2024
30. Exports, In Physical Terms, By Country, 2012–2024
31. Exports, In Value Terms, By Country, 2012–2024
32. Export Prices, 2012–2024