Report Update Apr 1, 2024

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

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ECOWAS: Nickel Market 2024

Nickel Market Size in ECOWAS

The ECOWAS nickel market was estimated at $X in 2022, approximately mirroring the previous year. Overall, consumption, however, continues to indicate a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Nickel Production in ECOWAS

In value terms, nickel production shrank to $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Nickel Exports

Exports in ECOWAS

Nickel exports amounted to X tons in 2021, remaining constant against the previous year's figure. Overall, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, nickel exports stood at $X in 2021. In general, exports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, declining by X% against the previous year. Over the period under review, the export price saw a sharp shrinkage. The growth pace was the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 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 Senegal.

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

Nickel Imports

Imports in ECOWAS

In 2022, imports of unwrought nickel in ECOWAS dropped significantly to X tons, reducing by X% on 2021. Over the period under review, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, nickel imports reduced rapidly to $X in 2022. Overall, imports recorded a deep slump. The pace of growth appeared the most rapid in 2016 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 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana represented the largest importing country with an import of around X kg, which reached X% of total imports. It was distantly followed by Nigeria (X kg), constituting a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ghana (with a CAGR of X%).

In value terms, Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate a tangible increase. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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 Ghana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for unwrought nickel in ECOWAS?

Nigeria remains the largest nickel consuming country in ECOWAS, accounting for 68% of total volume. Moreover, nickel consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Ghana, sixfold. The third position in this ranking was taken by Burkina Faso, with a 3.9% share.

What are the largest producers of unwrought nickel in ECOWAS?

Nigeria constituted the country with the largest volume of nickel production, comprising approx. 67% of total volume. Moreover, nickel production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana, sixfold. The third position in this ranking was held by Burkina Faso, with a 4.1% share.

What are the leading importers of unwrought nickel in ECOWAS?

In value terms, Nigeria and Ghana constituted the countries with the highest levels of imports in 2022.

What is the average export price for unwrought nickel in ECOWAS?

In 2021, the export price in ECOWAS amounted to $1,113 per ton, falling by -91% against the previous year.

What is the average import price for unwrought nickel in ECOWAS?

In 2022, the import price in ECOWAS amounted to $27,714 per ton, picking up by 87% against the previous year.

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
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.

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
- Niger
- Nigeria
- 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