Report Update Nov 1, 2024

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

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Nigeria: Biodiesel Market 2024

Biodiesel Market Size in Nigeria

The Nigerien biodiesel market skyrocketed to $X in 2021, increasing by 118% 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). In general, consumption saw a significant increase. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Biodiesel Exports

Exports from Nigeria

Biodiesel exports from Nigeria amounted to X kg in 2015, approximately mirroring 2014. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure in 2015 and are likely to see steady growth in the immediate term.

In value terms, biodiesel exports stood at $X in 2015. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the maximum in 2015 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X kg) was the main destination for biodiesel exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2015 to 2015, the average annual growth rate of volume to the Netherlands was relatively modest.

From 2015 to 2015, the average annual growth rate of value to the Netherlands was relatively modest.

Biodiesel Imports

Imports into Nigeria

In 2021, the amount of biodiesel imported into Nigeria soared to X tons, picking up by 127% against 2020. Overall, imports showed significant growth. The growth pace was the most rapid in 2013 when imports increased by 8,108% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, biodiesel imports skyrocketed to $X in 2021. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2013 with an increase of 8,703% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest biodiesel supplier to Nigeria, with a 43% share of total imports. Moreover, biodiesel imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was taken by the UK (X kg), with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.6% per year) and the UK (-37.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of biodiesel to Nigeria, comprising 39% of total imports. The second position in the ranking was held by Portugal ($X), with a 6.7% share of total imports. It was followed by the UK, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (0.0% per year) and the UK (-27.6% per year).

Import Prices by Country

In 2021, the average biodiesel import price amounted to $X per ton, shrinking by -6% against the previous year. In general, the import price, however, enjoyed a slight expansion. The growth pace was the most rapid in 2020 an increase of 71%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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 Portugal ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+72.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for biodiesel in the world?

The countries with the highest volumes of biodiesel consumption in 2020 were Indonesia, the U.S. and Brazil, together accounting for 44% of global consumption. France, Germany, Italy, Thailand, Spain, the UK, Argentina, the Netherlands, Malaysia and Poland lagged somewhat behind, together accounting for a further 38%.

What are the largest producers of biodiesel in the world?

The countries with the highest volumes of biodiesel production in 2020 were Indonesia, the U.S. and Brazil, with a combined 43% share of global production. These countries were followed by Germany, France, Spain, the Netherlands, Thailand, Argentina, Malaysia, Italy, China and Poland, which together accounted for a further 40%.

What are the leading suppliers of biodiesel to Nigeria?

In value terms, the Netherlands constituted the largest supplier of biodiesel to Nigeria, comprising 86% of total imports. The second position in the ranking was occupied by Singapore, with a 3.6% share of total imports.

What is the average export price for biodiesel in Nigeria?

In 2015, the average biodiesel export price amounted to $921 per ton, remaining relatively unchanged against the previous year.

What is the average import price for biodiesel in Nigeria?

The average biodiesel import price stood at $2,746 per ton in 2020, growing by 55% against the previous year.

This report provides an in-depth analysis of the biodiesel 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 20595997 - Biofuels (diesel substitute)

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