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Report ECOWAS - Platinum - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Platinum - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Platinum Market 2024

Platinum Market Size in ECOWAS

The ECOWAS platinum market dropped to $X in 2022, approximately mirroring the previous year. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Platinum Production in ECOWAS

In value terms, platinum production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Platinum Exports

Exports in ECOWAS

In 2022, the amount of platinum exported in ECOWAS totaled X kg, almost unchanged from the previous year. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X kg in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, platinum exports surged to $X in 2022. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X kg) was the largest exporter of platinum in ECOWAS, making up X% of total export.

Nigeria was also the fastest-growing in terms of the platinum exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest platinum supplier in ECOWAS.

In Nigeria, platinum exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per kg in 2022, increasing by X% against the previous year. In general, the export price enjoyed a significant expansion. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Platinum Imports

Imports in ECOWAS

In 2022, platinum imports in ECOWAS dropped remarkably to X kg, with a decrease of X% compared with the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, platinum imports fell rapidly to $X in 2022. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of import peaked at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

In 2022, Nigeria (X kg) was the major importer of platinum, achieving X% of total imports. Niger (X kg) ranks second in terms of the total imports with an X% share, followed by Cote d'Ivoire (X%), Senegal (X%), Ghana (X%) and Mali (X%). The following importers - Burkina Faso (X kg) and Benin (X kg) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%), Mali (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Benin (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Niger (X p.p.), Mali (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (X p.p.), Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X), Senegal ($X) and Niger ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Niger, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per kg in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, import prices hit record highs at $X per kg in 2021, and then dropped significantly in the following year.

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 Mali ($X per kg), while Nigeria ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Nigeria remains the largest platinum consuming country in ECOWAS, accounting for 63% of total volume. Moreover, platinum consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Niger, tenfold. Ghana ranked third in terms of total consumption with a 6.1% share.
Nigeria remains the largest platinum producing country in ECOWAS, comprising approx. 62% of total volume. Moreover, platinum production in Nigeria exceeded the figures recorded by the second-largest producer, Ghana, tenfold. The third position in this ranking was taken by Niger, with a 6.1% share.
In value terms, Nigeria remains the largest platinum supplier in ECOWAS.
In value terms, Mali, Senegal and Niger appeared to be the countries with the highest levels of imports in 2022, with a combined 71% share of total imports.
In 2022, the export price in ECOWAS amounted to $15,530 per kg, with an increase of 99% against the previous year.
In 2022, the import price in ECOWAS amounted to $2,344 per kg, reducing by -71.3% against the previous year.

This report provides an in-depth analysis of the platinum 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 24413010 -
  • Prodcom 24413015 -
  • Prodcom 24413020 -
  • Prodcom 24413025 -
  • Prodcom 24413040 -
  • Prodcom 24413045 -
  • Prodcom 24413055 -
  • Prodcom 24413060 -
  • Prodcom 24413065 -
  • Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
  • Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
  • Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)

Country coverage:

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 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. 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. 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. 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

  12. 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

  13. 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

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