Report Update Nov 1, 2024

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

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Nigeria: Baryte Market 2024

Baryte Market Size in Nigeria

In 2021, the Nigerien baryte market decreased by -68.2% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a precipitous curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Baryte Production in Nigeria

In value terms, baryte production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, saw a precipitous setback. The most prominent rate of growth was recorded in 2017 with an increase of 57% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Baryte Exports

Exports from Nigeria

In 2020, approx. X tons of barytes were exported from Nigeria; picking up by 45% on the year before. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 53%. As a result, the exports attained the peak of X tons. From 2014 to 2020, the growth of the exports failed to regain momentum.

In value terms, baryte exports soared to $X in 2020. Over the period under review, exports, however, showed a deep slump. The exports peaked at $X in 2013; however, from 2014 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for baryte exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Democratic Republic of the Congo was relatively modest.

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for barytes exports from Nigeria.

From 2012 to 2020, the average annual growth rate of value to Democratic Republic of the Congo was relatively modest.

Export Prices by Country

The average baryte export price stood at $X per ton in 2020, surging by 4.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Democratic Republic of the Congo.

From 2012 to 2020, the rate of growth in terms of prices for Benin amounted to +1.9% per year.

Baryte Imports

Imports into Nigeria

In 2021, purchases abroad of barytes decreased by -77.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a dramatic descent. The pace of growth appeared the most rapid in 2018 with an increase of 3,410%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, baryte imports declined rapidly to $X in 2021. Over the period under review, imports saw a significant decline. The most prominent rate of growth was recorded in 2018 with an increase of 2,975% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Morocco (X tons) constituted the largest supplier of baryte to Nigeria, accounting for a 44% share of total imports. Moreover, baryte imports from Morocco exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Morocco totaled -20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and India (-23.3% per year).

In value terms, Morocco ($X), China ($X) and India ($X) appeared to be the largest baryte suppliers to Nigeria, with a combined 70% share of total imports.

China, with a CAGR of +15.8%, saw 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 a decline.

Import Prices by Country

In 2021, the average baryte import price amounted to $X per ton, picking up by 10% against the previous year. In general, the import price, however, saw a drastic downturn. The growth pace was the most rapid in 2020 when the average import price increased by 42% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+4.8%), 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 barytes in the world?

The countries with the highest volumes of in 2021 were the United States, India and China, with a combined 41% share of global consumption. These countries were followed by Saudi Arabia, Morocco, Iran, Kazakhstan, France, Ukraine, Kuwait and Russia, which together accounted for a further 31%.

What are the largest producers of barytes in the world?

The countries with the highest volumes of in 2021 were China, India and Morocco, with a combined 55% share of global production. These countries were followed by Kazakhstan, Iran, the United States, Mexico, France, Ukraine, Turkey and Russia, which together accounted for a further 28%.

What are the leading suppliers of barytes to Nigeria?

In value terms, the UK constituted the largest supplier of baryte to Nigeria, comprising 61% of total imports. The second position in the ranking was occupied by the United States, with an 18% share of total imports. It was followed by China, with a 9.3% share.

What is the average export price for barytes in Nigeria?

In 2020, the average baryte export price amounted to $278 per ton, rising by 4.6% against the previous year.

What is the average import price for barytes in Nigeria?

The average baryte import price stood at $373 per ton in 2021, surging by 117% against the previous year.

This report provides an in-depth analysis of the baryte 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:

UNCode 16190-2 - Barytes, whether or not calcined

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