Report Update Nov 1, 2024

Nigeria - Artificial Corundum - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Artificial Corundum Market 2024

Artificial Corundum Market Size in Nigeria

The Nigerien artificial corundum market shrank sharply to $X in 2021, waning by -68% 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, continues to indicate a significant expansion. As a result, consumption attained the peak level of $X, and then fell notably in the following year.

Artificial Corundum Exports

Exports from Nigeria

In 2021, the amount of artificial corundum exported from Nigeria totaled less than X kg, remaining stable against the year before. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, artificial corundum exports stood at less than $X in 2021. In general, exports showed a relatively flat trend pattern.

Artificial Corundum Imports

Imports into Nigeria

In 2021, artificial corundum imports into Nigeria shrank sharply to X tons, reducing by -59.8% compared with the year before. Over the period under review, imports, however, showed significant growth. The growth pace was the most rapid in 2020 with an increase of 2,149% against the previous year. As a result, imports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, artificial corundum imports reduced notably to $X in 2021. In general, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 2,387%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and India (X tons) were the main suppliers of artificial corundum imports to Nigeria, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +130.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) were the largest artificial corundum suppliers to Nigeria, together accounting for 72% of total imports.

Belgium, with a CAGR of +111.2%, recorded the highest growth rate of 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 artificial corundum import price stood at $X per ton in 2021, waning by -30.8% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 52%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for artificial corundum in the world?

The country with the largest volume of artificial corundum consumption was China, accounting for 25% of total volume. Moreover, artificial corundum consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Brazil, with a 5.7% share.

What are the largest producers of artificial corundum in the world?

China remains the largest artificial corundum producing country worldwide, comprising approx. 43% of total volume. Moreover, artificial corundum production in China exceeded the figures recorded by the second-largest producer, India, fivefold. Brazil ranked third in terms of total production with a 6% share.

What are the leading suppliers of artificial corundum to Nigeria?

In value terms, the largest artificial corundum suppliers to Nigeria were Belgium, the Netherlands and Germany, together accounting for 89% of total imports.

What is the average import price for artificial corundum in Nigeria?

The average artificial corundum import price stood at $1,902 per ton in 2021, surging by 2.9% against the previous year.

This report provides an in-depth analysis of the artificial corundum 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 23991500 - Artificial corundum (excluding mechanical mixtures)

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