Report Update Nov 1, 2024

Nigeria - Denatured Ethyl Alcohol and Other Denatured Spirits - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Nigeria

In 2021, after four years of growth, there was significant decline in the Nigerien denatured ethyl alcohol market, when its value decreased by -22.3% to $X. In general, consumption, however, saw a relatively flat trend pattern. Denatured ethyl alcohol consumption peaked at $X in 2020, and then shrank rapidly in the following year.

Denatured Ethyl Alcohol Exports

Exports from Nigeria

In 2021, approx. X tons of denatured ethyl alcohol and other denatured spirits were exported from Nigeria; which is down by -87.5% against 2020. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 20,584%. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, denatured ethyl alcohol exports shrank remarkably to $X in 2021. In general, exports, however, enjoyed a noticeable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 23,936%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Benin (X tons) and Ghana (X tons) were the main destinations of denatured ethyl alcohol exports from Nigeria.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +13.3%).

In value terms, Benin ($X) and Ghana ($X) were the largest markets for denatured ethyl alcohol exported from Nigeria worldwide.

Benin, with a CAGR of +11.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average denatured ethyl alcohol export price amounted to $X per ton, increasing by 1.6% against the previous year. In general, the export price, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 45%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Benin ($X per ton), while the average price for exports to Ghana amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+4.4%).

Denatured Ethyl Alcohol Imports

Imports into Nigeria

After four years of growth, supplies from abroad of denatured ethyl alcohol and other denatured spirits decreased by -38.9% to X tons in 2021. In general, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 with an increase of 51%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced remarkably in the following year.

In value terms, denatured ethyl alcohol imports dropped to $X in 2021. Over the period under review, imports, however, showed a modest increase. The most prominent rate of growth was recorded in 2017 when imports increased by 42%. Imports peaked at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, the United States (X tons) constituted the largest denatured ethyl alcohol supplier to Nigeria, with a 79% share of total imports. Moreover, denatured ethyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-14.9% per year) and India (-0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Nigeria, comprising 65% of total imports. The second position in the ranking was held by Brazil ($X), with a 31% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.7% per year) and India (-7.8% per year).

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per ton in 2021, rising by 39% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, denatured ethyl alcohol import price increased by +67.7% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+14.3%), 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 denatured ethyl alcohol and other denatured spirits in the world?

The countries with the highest volumes of denatured ethyl alcohol consumption in 2020 were China, the United States and Japan, with a combined 29% share of global consumption. India, Russia, Pakistan, Brazil, Canada, the Netherlands, Indonesia, the UK, Mexico and Nigeria lagged somewhat behind, together accounting for a further 30%.

What are the largest producers of denatured ethyl alcohol and other denatured spirits in the world?

The countries with the highest volumes of denatured ethyl alcohol production in 2020 were the United States, China and Japan, together comprising 48% of global production.

What are the leading suppliers of denatured ethyl alcohol and other denatured spirits to Nigeria?

In value terms, the United States constituted the largest supplier of denatured ethyl alcohol to Nigeria, comprising 94% of total imports. The second position in the ranking was occupied by Brazil, with a 2.5% share of total imports.

What are the leading importers of denatured ethyl alcohol and other denatured spirits from Nigeria?

In value terms, Benin remains the key foreign market for denatured ethyl alcohol exports from Nigeria.

What is the average export price for denatured ethyl alcohol and other denatured spirits in Nigeria?

In 2020, the average denatured ethyl alcohol export price amounted to $514 per ton, remaining relatively unchanged against the previous year.

What is the average import price for denatured ethyl alcohol and other denatured spirits in Nigeria?

In 2020, the average denatured ethyl alcohol import price amounted to $588 per ton, remaining stable against the previous year.

This report provides an in-depth analysis of the denatured ethyl alcohol 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 20147500 - Denatured ethyl alcohol and other denatured spirits, of any strength

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