Report Update Nov 1, 2024

Western Africa - Nickel - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Nickel Market 2022

Nickel Market Size in Western Africa

The West African nickel market declined to $X in 2021, which is down by -X% against the previous year. Overall, consumption, however, recorded a perceptible downturn. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Nickel Production in Western Africa

In value terms, nickel production totaled $X in 2021 estimated in export price. Over the period under review, production faced a significant curtailment. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Production By Country in Western Africa

The country with the largest volume of nickel production was Sierra Leone (X tons), comprising approx. X% of total volume.

From 2012 to 2021, the average annual rate of growth in terms of volume in Sierra Leone amounted to +X%.

Nickel Exports

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2016 an increase of X%. 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 +X% per year.

Nickel Imports

Imports in Western Africa

Nickel imports dropped rapidly to X tons in 2021, with a decrease of -X% on 2020 figures. Over the period under review, imports showed a perceptible decline. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, nickel imports reduced rapidly to $X in 2021. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Cote d'Ivoire (X tons) represented the key importer of nickel, generating X% of total imports. Nigeria (X kg) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%).

Imports into Cote d'Ivoire decreased at an average annual rate of -X% from 2012 to 2021. At the same time, Nigeria (+X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +X% from 2012-2021. By contrast, Ghana (-X%) illustrated a downward trend over the same period. Nigeria (+X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Ghana saw its share reduced by -X% and -X% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported nickel in Western Africa, comprising X% of total imports. The second position in the ranking was occupied by Ghana ($X), with a X% share of total imports.

In Cote d'Ivoire, nickel imports declined by an average annual rate of -X% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-X% per year) and Nigeria (-X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, shrinking by -X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nickel in Western Africa?

The country with the largest volume of nickel consumption was Sierra Leone, accounting for 83% of total volume. Moreover, nickel consumption in Sierra Leone exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire, eightfold. The third position in this ranking was occupied by Nigeria, with a 4.1% share.

What are the largest producers of nickel in Western Africa?

Sierra Leone constituted the country with the largest volume of nickel production, accounting for 100% of total volume.

What are the leading importers of nickel in Western Africa?

In value terms, Cote d'Ivoire constitutes the largest market for imported nickel in Western Africa, comprising 79% of total imports. The second position in the ranking was occupied by Ghana, with a 12% share of total imports.

What is the average export price for nickel in Western Africa?

The export price in Western Africa stood at $21,184 per ton in 2021, surging by 39% against the previous year.

What is the average import price for nickel in Western Africa?

In 2021, the import price in Western Africa amounted to $12,973 per ton, dropping by -36% against the previous year.

This report provides an in-depth analysis of the nickel market in Western Africa. 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
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
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 Western Africa, split by region and country
Trade (exports and imports) in Western Africa
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
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- 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