Report Update Nov 1, 2024

ECOWAS - Nickel Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Nickel Ore Market 2024

Nickel Ore Market Size in ECOWAS

In 2021, after four years of decline, there was significant growth in the ECOWAS nickel ore market, when its value increased by 102% to $X. Over the period under review, consumption, however, recorded a abrupt curtailment. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Nickel Ore Production in ECOWAS

In value terms, nickel ore production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 278% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Nickel Ore Exports

Exports in ECOWAS

In 2021, shipments abroad of nickel ores and concentrates decreased by -7.3% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,227%. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, nickel ore exports skyrocketed to $X in 2021. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 1,097%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Cote d'Ivoire (X tons) represented roughly 99.9% of total exports in 2021.

Cote d'Ivoire was also the fastest-growing in terms of the nickel ores and concentrates exports, with a CAGR of +43.3% from 2012 to 2021. From 2012 to 2021, the share of Cote d'Ivoire increased by +4.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest nickel ore supplier in ECOWAS.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire amounted to +51.4%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, rising by 30% against the previous year. Overall, the export price posted a remarkable increase. The pace of growth appeared the most rapid in 2015 when the export price increased by 268%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, 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 Cote d'Ivoire.

From 2012 to 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +5.6% per year.

Nickel Ore Imports

Imports in ECOWAS

In 2021, overseas purchases of nickel ores and concentrates increased by 100% to X kg, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, faced a dramatic contraction. The most prominent rate of growth was recorded in 2017 with an increase of 7,613% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nickel ore imports soared to $X in 2021. In general, imports, however, continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 7,646%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Nigeria (X kg) represented the major importer of nickel ores and concentrates in ECOWAS, achieving 100% of total import.

Nigeria was also the fastest-growing in terms of the nickel ores and concentrates imports, with a CAGR of -27.2% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported nickel ores and concentrates in ECOWAS.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to -20.4%.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 101% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +9.4% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the nickel ore 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 07291200 - Nickel ores and concentrates

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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
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, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023