Nigeria: Market for Activated Natural Mineral Products 2024

Market Size for Activated Natural Mineral Products in Nigeria

The Nigerien activated natural mineral products market reduced markedly to $X in 2021, waning by -24.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed measured growth. Over the period under review, the market reached the peak level at $X in 2020, and then reduced markedly in the following year.

Exports of Activated Natural Mineral Products

Exports from Nigeria

Activated natural mineral products exports from Nigeria soared to X tons in 2021, increasing by 6,215% on the previous year's figure. Overall, exports, however, recorded a mild contraction. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, activated natural mineral products exports surged to $X in 2021. Over the period under review, exports recorded a measured expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Niger (X tons) was the main destination for activated natural mineral products exports from Nigeria, accounting for a 99% share of total exports. It was followed by Poland (X tons), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger stood at +78.5%.

In value terms, Niger ($X) remains the key foreign market for activated natural mineral products exports from Nigeria, comprising 99% of total exports. The second position in the ranking was taken by Poland ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger totaled +100.3%.

Export Prices by Country

The average activated natural mineral products export price stood at $X per ton in 2021, growing by 20% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, activated natural mineral products export price increased by +88.6% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 24%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Niger stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+204,720.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Activated Natural Mineral Products

Imports into Nigeria

In 2021, the amount of activated natural mineral products imported into Nigeria dropped notably to X tons, with a decrease of -31.5% on 2020 figures. Over the period under review, imports, however, continue to indicate pronounced growth. The growth pace was the most rapid in 2015 with an increase of 72%. Over the period under review, imports attained the maximum at X tons in 2020, and then declined significantly in the following year.

In value terms, activated natural mineral products imports contracted remarkably to $X in 2021. Overall, imports, however, continue to indicate a noticeable increase. The pace of growth appeared the most rapid in 2013 with an increase of 70%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of activated natural mineral products imports to Nigeria, with a combined 51% share of total imports. These countries were followed by Egypt, Spain, France, China, Greece, Poland and South Africa, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +77.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and Malaysia ($X) were the largest activated natural mineral products suppliers to Nigeria, together comprising 57% of total imports.

India, with a CAGR of +70.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average activated natural mineral products import price amounted to $X per ton, rising by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2016 an increase of 23%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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