Nigeria: Nickel Powder Market 2025

Nickel Powder Market Size in Nigeria

The Nigerien nickel powder market was finally on the rise to reach $X in 2021, after six years of decline. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -29.2% against 2014 indices. Nickel powder consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Nickel Powder Production in Nigeria

In value terms, nickel powder production rose sharply to $X in 2021 estimated in export price. Over the period under review, production saw a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 55%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Nickel Powder Exports

Exports from Nigeria

In 2020, the amount of nickel powders and flakes exported from Nigeria amounted to X kg, stabilizing at the previous year. Overall, exports recorded a significant decrease. The smallest decline of 99.9% was in 2015. The exports peaked at X tons in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

In value terms, nickel powder exports totaled $X in 2020. In general, exports continue to indicate a dramatic downturn. The smallest decline of -48.6% was in 2015. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for nickel powder exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Cote d'Ivoire was relatively modest.

From 2012 to 2020, the average annual rate of growth in terms of value to Cote d'Ivoire was relatively modest.

Export Prices by Country

In 2020, the average nickel powder export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when the average export price decreased by 99.9% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2020, the rate of growth in terms of prices for Cote d'Ivoire amounted to 0.0% per year.

Nickel Powder Imports

Imports into Nigeria

In 2021, purchases abroad of nickel powders and flakes increased by 22% to X kg for the first time since 2018, thus ending a two-year declining trend. In general, imports posted a significant expansion. The growth pace was the most rapid in 2018 with an increase of 256%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, nickel powder imports soared to $X in 2021. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 219%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X kg) constituted the largest nickel powder supplier to Nigeria, accounting for a 85% share of total imports. Moreover, nickel powder imports from China exceeded the figures recorded by the second-largest supplier, Germany (X kg), more than tenfold. The United Arab Emirates (X kg) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +85.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.6% per year) and the United Arab Emirates (+9.6% per year).

In value terms, the largest nickel powder suppliers to Nigeria were Germany ($X), the United Arab Emirates ($X) and South Africa ($X), together comprising 51% of total imports.

South Africa, with a CAGR of +285.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nickel powder import price amounted to $X per ton, increasing by 32% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 59% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+156.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :