Report Update Nov 1, 2024

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

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Nigeria: Bauxite Market 2024

Bauxite Market Size in Nigeria

The Nigerien bauxite market shrank remarkably to $X in 2022, with a decrease of -86.9% against the previous year. Over the period under review, consumption faced a precipitous curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Bauxite Production in Nigeria

In value terms, bauxite production fell modestly to $X in 2022 estimated in export price. In general, production, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2014 with an increase of 57%. Bauxite production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Bauxite Exports

Exports from Nigeria

In 2022, overseas shipments of bauxite increased by 43% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 3,536%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, bauxite exports contracted slightly to $X in 2022. Overall, exports saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by 2,525% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for bauxite exports from Nigeria, accounting for a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China stood at +70.6%.

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

From 2012 to 2022, the average annual growth rate of value to China amounted to +51.0%.

Export Prices by Country

The average bauxite export price stood at $X per ton in 2022, declining by -31.8% against the previous year. In general, the export price faced a precipitous setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 71% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -11.4% per year.

Bauxite Imports

Imports into Nigeria

In 2022, the amount of bauxite imported into Nigeria fell dramatically to X tons, waning by -35.6% against the previous year. In general, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 1,176%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, bauxite imports shrank sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 468% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Guyana (X tons) constituted the largest bauxite supplier to Nigeria, accounting for a 61% share of total imports. Moreover, bauxite imports from Guyana exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Guyana stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+41.5% per year) and the Netherlands (+27.8% per year).

In value terms, Guyana ($X), the Netherlands ($X) and India ($X) appeared to be the largest bauxite suppliers to Nigeria, with a combined 94% share of total imports.

Among the main suppliers, India, with a CAGR of +22.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average bauxite import price amounted to $X per ton, reducing by -6.4% against the previous year. Over the period under review, the import price recorded a deep downturn. The pace of growth appeared the most rapid in 2021 an increase of 40%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bauxite in the world?

The country with the largest volume of bauxite consumption was China, comprising approx. 48% of total volume. Moreover, bauxite consumption in China exceeded the figures recorded by the second-largest consumer, Australia, twofold. Brazil ranked third in terms of total consumption with a 7.7% share.

What are the largest producers of bauxite in the world?

The countries with the highest volumes of in 2021 were Australia, Guinea and China, together comprising 68% of global production.

What are the leading suppliers of bauxite to Nigeria?

In value terms, Guyana constituted the largest supplier of bauxite to Nigeria, comprising 68% of total imports. The second position in the ranking was occupied by the Netherlands, with a 20% share of total imports. It was followed by China, with an 8.1% share.

What is the average import price for bauxite in Nigeria?

The average bauxite import price stood at $489 per ton in 2021, increasing by 15% against the previous year.

This report provides an in-depth analysis of the bauxite 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 07291300 - Aluminium ores and concentrates

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