Report Update Nov 1, 2024

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

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Nigeria: Argon Market 2024

Argon Exports

Exports from Nigeria

In 2022, approx. X cubic meters of argon were exported from Nigeria; waning by -3.4% on the previous year's figure. Over the period under review, exports faced a sharp setback. The pace of growth was the most pronounced in 2013 when exports increased by 79% against the previous year. Over the period under review, the exports reached the maximum at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, argon exports contracted notably to $X in 2022. Overall, exports faced a precipitous decline. The pace of growth appeared the most rapid in 2020 when exports increased by 69% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X cubic meters) was the main destination for argon exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium stood at -35.1%.

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

From 2012 to 2022, the average annual growth rate of value to Belgium stood at -33.1%.

Export Prices by Country

In 2022, the average argon export price amounted to $X per cubic meter, declining by -17.7% against the previous year. In general, the export price, however, posted a moderate increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 137% against the previous year. The export price peaked at $X per cubic meter in 2021, and then reduced rapidly in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Belgium amounted to +3.2% per year.

Argon Imports

Imports into Nigeria

In 2022, approx. X cubic meters of argon were imported into Nigeria; increasing by 20% compared with the previous year. Over the period under review, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 272%. Over the period under review, imports attained the maximum at X cubic meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, argon imports skyrocketed to $X in 2022. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 203%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X cubic meters), South Korea (X cubic meters) and the Netherlands (X cubic meters) were the main suppliers of argon imports to Nigeria, together accounting for 47% of total imports. France, Belgium, the United Arab Emirates, Lebanon and Portugal lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), South Korea ($X) and Belgium ($X) appeared to be the largest argon suppliers to Nigeria, with a combined 50% share of total imports. These countries were followed by China, France, the United Arab Emirates, Lebanon and Portugal, which together accounted for a further 33%.

France, with a CAGR of +41.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average argon import price stood at $X per cubic meter in 2022, surging by 35% against the previous year. In general, the import price continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 38% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per cubic meter), while the price for Portugal ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for argon in the world?

The countries with the highest volumes of argon consumption in 2021 were the United States, China and India, together accounting for 55% of global consumption. These countries were followed by Brazil, Poland, Japan, Germany, Iran, the UK and Russia, which together accounted for a further 16%.

What are the largest producers of argon in the world?

The countries with the highest volumes of argon production in 2021 were the United States, China and India, with a combined 56% share of global production. Brazil, Germany, Poland, Japan, Iran, the Netherlands and the UK lagged somewhat behind, together comprising a further 17%.

What are the leading suppliers of argon to Nigeria?

In value terms, the largest argon suppliers to Nigeria were South Korea, Singapore and France, with a combined 66% share of total imports.

What are the leading importers of argon from Nigeria?

In value terms, Belgium remains the key foreign market for argon exports from Nigeria.

What is the average export price for argon in Nigeria?

In 2021, the average argon export price amounted to $1.4 per cubic meter, shrinking by -9.1% against the previous year.

What is the average import price for argon in Nigeria?

The average argon import price stood at $1.6 per cubic meter in 2021, with an increase of 6.5% against the previous year.

This report provides an in-depth analysis of the argon 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 20111120 - Argon

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