Nigeria Nonferrous Metal Products Market (2024-2030) | Share, Forecast, Revenue, Trends, Industry, Growth, Value, Analysis, Outlook, Size & Companies

Nigeria Nonferrous Metal Products Market Highlights

Topics Covered in the Nigeria Nonferrous Metal Products Market Report

The Nigeria Nonferrous Metal Products market report thoroughly covers the market by type and by application. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Nonferrous Metal Products Market Size & Analysis

In 2024, the Nigeria Nonferrous Metal Products market is valued at approximately $ 3.4 billion, with a projected compound annual growth rate (CAGR) of 6.8% over the next five years. Additionally, by 2030, the market is expected to reach around $ 4.6 billion. The construction sector holds significant position in the overall market.

Nigeria Nonferrous Metal Products Market Synopsis

The nonferrous metal products market in Nigeria is growing steadily, driven by the country’s expanding construction, automotive, and power sectors, as well as its increasing industrialization. Key metals like aluminum, copper, and zinc are in demand for infrastructure development, electrical wiring, and roofing applications. The market is supported by Nigeria’s abundant mineral resources, which provide raw materials for local production, and growing investments in manufacturing facilities. However, the sector faces challenges such as inadequate energy supply, high production costs, and reliance on imported machinery. Despite these hurdles, government initiatives promoting local sourcing and the adoption of modern technologies are creating opportunities for sustainable growth in this market.

According to 6Wresearch, Nigeria Nonferrous Metal Products market size is projected to grow at a CAGR of 6.8% during 2024-2030. The growth of the Nigeria nonferrous metal products market is primarily driven by rapid urbanization, increased construction activities, and rising demand for electrical and automotive components, particularly aluminum, copper, and zinc. Government infrastructure projects, such as housing and road construction, are spurring demand, while the automotive sector benefits from a shift towards lightweight, corrosion-resistant metals.

Additionally, the local availability of some key mineral resources presents opportunities for expanding domestic production. However, the Nigeria Nonferrous Metal Products industry faces challenges such as inadequate electricity supply, which increases energy costs and impacts manufacturing efficiency. High import dependency for advanced smelting equipment, limited access to financing for small and medium enterprises (SMEs), and inefficient infrastructure also hinder growth. Fluctuating global commodity prices and a lack of skilled labor further complicate the market landscape, requiring increased investments in technology and workforce development to unlock the full potential of the sector.

Nigeria Nonferrous Metal Products Market Trends

• Rising Demand in Construction - Increased use of aluminum, copper, and zinc for building materials, including roofing, cladding, and wiring, driven by ongoing urbanization and infrastructure projects.
• Automotive Industry Growth - Growing demand for lightweight nonferrous metals in automotive manufacturing to improve fuel efficiency and reduce emissions.
• Focus on Local Production - Investment in domestic smelting and refining facilities to reduce import reliance and enhance self-sufficiency in raw material supply.
• Shift Toward Recycling - Growing emphasis on metal recycling as a cost-effective and sustainable source of nonferrous metals, in line with global environmental trends.
• Adoption of Advanced Manufacturing Technologies - Increased implementation of modern smelting technologies and automation to improve production efficiency and product quality.

Investment Opportunities in the Nigeria Nonferrous Metal Products Market

• Metal Recycling Plants - Establishing or investing in facilities focused on the recycling of aluminum, copper, and other nonferrous metals to meet growing demand for sustainable materials.
• Local Smelting and Refining Operations - Investing in smelting and refining plants to reduce reliance on imports and capitalize on Nigeria's rich mineral resources.
• Infrastructure Development - Partnering in large-scale construction and infrastructure projects, which require significant amounts of nonferrous metals, especially in roofing, electrical, and plumbing applications.
• Automotive Industry Manufacturing - Investing in the production of lightweight, corrosion-resistant metals for the growing automotive industry, especially with the demand for fuel-efficient and eco-friendly vehicles.

Key Players in the Nigeria Nonferrous Metal Products Market

Key companies in the Nigeria nonferrous metal products market include Nigerian Mining Corporation (NMC), which is involved in the extraction and processing of nonferrous minerals like zinc and copper, and Metal Recycling Limited, which focuses on the recycling of aluminum and other metals. Dangote Group, a major player in Nigeria's industrial sector, has also made investments in smelting and refining, particularly in cement production, which requires nonferrous metals for equipment and infrastructure.

Oando PLC, involved in oil and gas, is expanding into the energy sector where nonferrous metals like copper and aluminum are essential for power transmission and renewable energy projects. JMG Limited and Intercontinental Distribution Company are prominent suppliers of aluminum and copper products, serving industries such as construction and power. Additionally, some of these players hold majority of the Nigeria Nonferrous Metal Products market share. Moreover, these companies are integral to Nigeria's efforts to increase local production and reduce reliance on imports, while also positioning the country as a key player in the regional nonferrous metals market.

Government Regulations in the Nigeria Nonferrous Metal Products Market

The Nigeria government has implemented several regulations to govern the nonferrous metal products market, focusing on environmental sustainability, safety, and local industry development. The National Environmental Standards and Regulations Enforcement Agency (NESREA) enforces guidelines on waste management, emissions, and pollution control in metal processing industries. Additionally, the Mining Act regulates the exploration and extraction of nonferrous minerals, ensuring sustainable practices and granting licenses to mining companies. Further, these initiatives have further boosted the Nigeria Nonferrous Metal Products market revenues.

Furthermore, the Raw Materials Research and Development Council (RMRDC) promotes local sourcing of nonferrous metals and supports the development of domestic industries through research and innovation. To encourage industrial growth, the government has also introduced policies like import substitution and local content laws, aimed at reducing reliance on imported metals and fostering domestic smelting and refining capacities. Furthermore, companies must comply with the Nigeria Industrial Safety and Health Act (NISHA), ensuring the safety and welfare of workers in metal manufacturing facilities. These regulations are designed to promote sustainable practices while fostering economic growth and industrialization in Nigeria’s nonferrous metals sector.

Future Insights of the Nigeria Nonferrous Metal Products Market

The future of the Nigeria nonferrous metal products market looks promising, with significant growth driven by increasing demand in construction, automotive, and energy sectors. The ongoing urbanization, infrastructure development, and government initiatives aimed at industrialization will continue to drive the need for nonferrous metals like aluminum, copper, and zinc. The rise of renewable energy and the electrification of transportation will create new opportunities, particularly for copper and aluminum used in power grids and electric vehicles. Additionally, the push towards sustainability and recycling will likely lead to greater investments in local recycling facilities and eco-friendly metal production processes. As Nigeria works to address infrastructure and energy challenges, increased investments in smelting, refining, and manufacturing technologies are expected to reduce reliance on imports and boost domestic production.

Smelting and Refining Category to Dominate the Market - By Type

According to Ravi Bhandari, Research Head, 6Wresearch, the smelting and refining category in Nigeria's nonferrous metal products market is poised for growth as the country seeks to reduce its dependency on imported metals and capitalize on its rich mineral resources. Investments in local smelting and refining capacity are expected to increase, driven by government initiatives aimed at promoting industrialization and reducing the trade deficit. The demand for refined metals like aluminum and copper is growing, fueled by the expanding construction, automotive, and energy sectors. Moreover, advancements in smelting technologies are improving efficiency and sustainability, aligning with global trends in reducing carbon emissions and energy consumption in metal production.

Construction to Dominate the Market – By Application

The growth of nonferrous metals in construction applications in Nigeria is being driven by the rapid urbanization and ongoing infrastructure development across the country. Metals like aluminum, copper, and zinc are increasingly used in construction for applications such as roofing, cladding, electrical wiring, and plumbing, due to their durability, corrosion resistance, and lightweight properties. The Nigerian government's push for affordable housing and large-scale infrastructure projects, combined with growing investments in commercial real estate, further boosts demand for nonferrous metals. Additionally, the growing trend towards sustainable and energy-efficient buildings is accelerating the use of these metals in green construction initiatives.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year - 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Nigeria Nonferrous Metal Products Market Overview
• Nigeria Nonferrous Metal Products Market Outlook
• Market Size of Nigeria Nonferrous Metal Products Market, 2023
• Forecast of Nigeria Nonferrous Metal Products Market, 2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Revenues & Volume for the Period 2020-2030
• Nigeria Nonferrous Metal Products Market Trend Evolution
• Nigeria Nonferrous Metal Products Market Drivers and Challenges
• Nigeria Nonferrous Metal Products Price Trends
• Nigeria Nonferrous Metal Products Porter's Five Forces
• Nigeria Nonferrous Metal Products Industry Life Cycle
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Type for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Smelting and Refining for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Rolling for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Drawing for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Extruding for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Alloying for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Other for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Applications for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Automotive for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Electronic Power for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Construction for the Period 2020-2030
• Historical Data and Forecast of Nigeria Nonferrous Metal Products Market Revenues & Volume, By Others for the Period 2020-2030
• Nigeria Nonferrous Metal Products Import Export Trade Statistics
• Market Opportunity Assessment, By Type
• Market Opportunity Assessment, By Applications
• Nigeria Nonferrous Metal Products Market - Top Companies Market Share
• Nigeria Nonferrous Metal Products Market - Competitive Benchmarking, By Technical and Operational Parameters
• Nigeria Nonferrous Metal Products Market - Company Profiles
• Nigeria Nonferrous Metal Products Market - Key Strategic Recommendations

Markets Covered

The Nigeria Nonferrous Metal Products market report provides a detailed analysis of the following market segments -

By Type

• Smelting and Refining
• Rolling
• Drawing
• Extruding
• Alloying
• Other

By Application

• Automotive
• Electronic Power
• Construction
• Others