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Report Western Africa - Nickel Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

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

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Western Africa: Nickel Ore Market 2024

Nickel Ore Market Size in Western Africa

The West African nickel ore market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, recorded a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Nickel Ore Production in Western Africa

In value terms, nickel ore production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong expansion. The pace of growth was the most pronounced 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 stood at a somewhat lower figure.

Nickel Ore Exports

Exports in Western Africa

In 2021, after three years of growth, there was significant decline in shipments abroad of nickel ores and concentrates, when their volume decreased by -7.3% to X tons. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,227%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then declined in the following year.

In value terms, nickel ore exports soared to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2018 with an increase of 1,097% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

The shipments of the one major exporters of nickel ores and concentrates, namely Cote d'Ivoire, represented more than two-thirds of total export.

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 Western Africa.

In Cote d'Ivoire, nickel ore exports expanded at an average annual rate of +51.4% over the period from 2012-2021.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, growing by 30% against the previous year. In general, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2015 when the export price increased by 268% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, 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 2021, the rate of growth in terms of prices for Cote d'Ivoire amounted to +5.6% per year.

Nickel Ore Imports

Imports in Western Africa

In 2021, overseas purchases of nickel ores and concentrates increased by 100% to X kg, rising for the second year in a row after two years of decline. Overall, imports, however, showed a dramatic descent. The most prominent rate of growth was recorded in 2017 when imports increased by 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 lower figure.

In value terms, nickel ore imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a sharp shrinkage. The pace of growth was the most pronounced 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 main importer of nickel ores and concentrates in Western Africa, mixing up 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 Western Africa.

In Nigeria, nickel ore imports plunged by an average annual rate of -20.4% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, flattening at the previous year. Overall, the import price, however, showed prominent growth. The pace of growth was the most pronounced in 2018 an increase of 101%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then contracted modestly 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) :

The countries with the highest volumes of consumption in 2021 were Cote d'Ivoire, Mauritania and Guinea, together comprising 99% of total consumption.
Cote d'Ivoire constituted the country with the largest volume of nickel ore production, comprising approx. 87% of total volume. Moreover, nickel ore production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Mauritania, more than tenfold.
In value terms, Cote d'Ivoire remains the largest nickel ore supplier in Western Africa.
In value terms, Nigeria $505) constitutes the largest market for imported nickel ores and concentrates in Western Africa.
In 2021, the export price in Western Africa amounted to $1,641 per ton, surging by 30% against the previous year.
The import price in Western Africa stood at $63,125 per ton in 2021, approximately equating the previous year.

This report provides an in-depth analysis of the nickel ore 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 07291200 - Nickel ores and concentrates

Country coverage:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Cote d'Ivoire
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo

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:

  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
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • 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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