Report Update Nov 1, 2024

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

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Nigeria: Nickel Ore Market 2024

Nickel Ore Market Size in Nigeria

In 2021, the Nigerien nickel ore market increased by 1.4% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a prominent increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Nickel Ore Production in Nigeria

In value terms, nickel ore production rose slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep slump. Nickel ore production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Nickel Ore Exports

Exports from Nigeria

In 2021, overseas shipments of nickel ores and concentrates increased by 12% to X kg, rising for the third consecutive year after four years of decline. Over the period under review, exports, however, recorded a dramatic setback. The pace of growth appeared the most rapid in 2014 with an increase of 24% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, nickel ore exports contracted slightly to $X in 2021. Overall, exports, however, saw a dramatic slump. The smallest decline of -2.8% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X kg) was the main destination for nickel ore exports from Nigeria, with a approx. 100% share of total exports.

From 2014 to 2020, the average annual growth rate of volume to Canada was relatively modest.

From 2014 to 2020, the average annual growth rate of value to Canada was relatively modest.

Export Prices by Country

In 2020, the average nickel ore export price amounted to $X per ton, dropping by -13.4% against the previous year. Overall, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2017 a decrease of -7% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, the export prices stood at a somewhat lower figure.

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

From 2014 to 2020, the rate of growth in terms of prices for Canada amounted to 0.0% per year.

Nickel Ore Imports

Imports into Nigeria

In 2021, supplies from abroad of nickel ores and concentrates increased by 100% to X kg, rising for the third year in a row after six years of decline. Overall, imports, however, showed a dramatic shrinkage. Over the period under review, imports attained the peak figure at X kg in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, nickel ore imports skyrocketed to $X in 2021. In general, imports, however, faced a dramatic slump. The most prominent rate of growth was recorded in 2020 when imports increased by 100%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2018, the United States (X kg) was the main nickel ore supplier to Nigeria, accounting for a approx. 100% share of total imports.

From 2013 to 2018, the average annual rate of growth in terms of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of nickel ores and concentrates to Nigeria.

From 2013 to 2018, the average annual growth rate of value from the United States was relatively modest.

Import Prices by Country

The average nickel ore import price stood at $X per ton in 2018, which is down by -22.3% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 172%. As a result, import price attained the peak level of $X per ton, and then contracted rapidly in the following year.

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

From 2013 to 2018, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the nickel ore market in Nigeria. 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:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023