Report Update Jan 1, 2025

ECOWAS - Nickel (Unwrought) - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

ECOWAS: Nickel Market 2025

Nickel Market Size in ECOWAS

The ECOWAS nickel market amounted to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption showed a pronounced expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Nickel Production in ECOWAS

In value terms, nickel production totaled $X in 2022 estimated in export price. In general, production enjoyed notable growth. The most prominent rate of growth was recorded in 2019 with an increase of 52%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Nickel Exports

Exports in ECOWAS

In 2021, nickel exports in ECOWAS totaled X kg, remaining constant against 2020. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 3,221% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nickel exports totaled $X in 2021. Over the period under review, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 6,881% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, growing by 224% against the previous year. Over the period under review, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2016 an increase of 224% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to +6.0% per year.

Nickel Imports

Imports in ECOWAS

In 2022, overseas purchases of nickel (unwrought) decreased by -12.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 539%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, nickel imports rose slightly to $X in 2022. In general, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2016 when imports increased by 582% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Senegal dominates imports structure, recording X tons, which was approx. 90% of total imports in 2022. It was distantly followed by Nigeria (X tons), achieving a 7.5% share of total imports. Ghana (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the nickel (unwrought) imports, with a CAGR of +105.6% from 2012 to 2022. At the same time, Nigeria (+17.1%) and Ghana (+5.5%) displayed positive paces of growth. While the share of Senegal (+89 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-2.2 p.p.) and Ghana (-6.4 p.p.) displayed negative dynamics.

In value terms, Senegal ($X) constitutes the largest market for imported nickel (unwrought) in ECOWAS, comprising 65% of total imports. The second position in the ranking was held by Nigeria ($X), with a 30% share of total imports.

In Senegal, nickel imports increased at an average annual rate of +78.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (+19.0% per year) and Ghana (+2.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by 18% against the previous year. Over the period under review, the import price, however, saw a deep contraction. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Nigeria ($X per ton), while Senegal ($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 (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the nickel 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 24451100 - Nickel, unwrought
Prodcom 24451110 -
Prodcom 24451120 -

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