ECOWAS - Nickel Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: 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
Frequently Asked Questions (FAQ) :
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
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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