Report Update Nov 1, 2024

Nigeria - Alumina - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Alumina Market 2024

Alumina Market Size in Nigeria

In 2022, the Nigerien alumina market decreased by -81% to $X, falling for the second year in a row after two years of growth. Overall, consumption faced a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Alumina Exports

Exports from Nigeria

In 2022, the amount of alumina exported from Nigeria fell modestly to X tons, remaining stable against 2021. Over the period under review, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of 473%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, alumina exports fell modestly to $X in 2022. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 378% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for alumina exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India totaled -7.4%.

In value terms, India ($X) also remains the key foreign market for alumina exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to India totaled -13.9%.

Export Prices by Country

In 2022, the average alumina export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -7.0% per year.

Alumina Imports

Imports into Nigeria

In 2022, alumina imports into Nigeria fell rapidly to X tons, declining by -69.2% compared with the previous year. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 172% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, alumina imports fell dramatically to $X in 2022. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2019 when imports increased by 130%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR (X tons), Canada (X tons) and India (X tons) were the main suppliers of alumina imports to Nigeria, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X) constituted the largest supplier of alumina to Nigeria, comprising 72% of total imports. The second position in the ranking was held by Canada ($X), with a 13% share of total imports. It was followed by Hong Kong SAR, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Algeria was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-14.6% per year) and Hong Kong SAR (+5.6% per year).

Import Prices by Country

The average alumina import price stood at $X per ton in 2022, waning by -11.9% 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 99% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Algeria ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+15.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for alumina in the world?

The country with the largest volume of alumina consumption was China, comprising approx. 52% of total volume. Moreover, alumina consumption in China exceeded the figures recorded by the second-largest consumer, Australia, fourfold. Russia ranked third in terms of total consumption with a 5.1% share.

What are the largest producers of alumina in the world?

China constituted the country with the largest volume of alumina production, accounting for 54% of total volume. Moreover, alumina production in China exceeded the figures recorded by the second-largest producer, Australia, fourfold. Brazil ranked third in terms of total production with a 7.6% share.

What are the leading suppliers of alumina to Nigeria?

In value terms, Algeria constituted the largest supplier of alumina to Nigeria, comprising 75% of total imports. The second position in the ranking was occupied by Canada, with a 20% share of total imports. It was followed by India, with a 3.1% share.

What are the leading importers of alumina from Nigeria?

In value terms, India remains the key foreign market for alumina exports from Nigeria.

What is the average export price for alumina in Nigeria?

The average alumina export price stood at $135 per ton in 2020, which is down by -11.7% against the previous year.

What is the average import price for alumina in Nigeria?

The average alumina import price stood at $1,387 per ton in 2020, dropping by -3.3% against the previous year.

This report provides an in-depth analysis of the alumina market in Nigeria. 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 24421200 - Aluminium oxide (excluding artificial corundum)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
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
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023