Nigeria: Market for Fluorine, Chlorine, Bromine and Iodine 2024

Market Size for Fluorine, Chlorine, Bromine and Iodine in Nigeria

After three years of growth, the Nigerien market for fluorine, chlorine, bromine and iodines decreased by -7.7% to $X in 2021. Overall, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +15.3% against 2016 indices. Fluorine, chlorine, bromine and iodine consumption peaked at $X in 2020, and then dropped in the following year.

Production of Fluorine, Chlorine, Bromine and Iodine in Nigeria

In value terms, fluorine, chlorine, bromine and iodine production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +26.8% against 2016 indices. The pace of growth appeared the most rapid in 2016 with an increase of 25% against the previous year. Fluorine, chlorine, bromine and iodine production peaked at $X in 2020, and then reduced in the following year.

Exports of Fluorine, Chlorine, Bromine and Iodine

Exports from Nigeria

In 2021, overseas shipments of fluorine, chlorine, bromine and iodines decreased by -65.5% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,419%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fluorine, chlorine, bromine and iodine exports plummeted to $X in 2021. In general, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2018 when exports increased by 5,667% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for fluorine, chlorine, bromine and iodine exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to +11.7%.

In value terms, Benin ($X) also remains the key foreign market for fluorine, chlorine, bromine and iodines exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Benin amounted to +11.2%.

Export Prices by Country

The average export price for fluorine, chlorine, bromine and iodines stood at $X per ton in 2021, shrinking by -60.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 280%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to -0.4% per year.

Imports of Fluorine, Chlorine, Bromine and Iodine

Imports into Nigeria

In 2021, overseas purchases of fluorine, chlorine, bromine and iodines decreased by -35.6% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports showed a perceptible decline. The pace of growth was the most pronounced in 2020 when imports increased by 108% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, fluorine, chlorine, bromine and iodine imports declined rapidly to $X in 2021. In general, imports, however, enjoyed modest growth. The pace of growth was the most pronounced in 2020 with an increase of 153% against the previous year. As a result, imports attained the peak of $X, and then shrank remarkably in the following year.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of fluorine, chlorine, bromine and iodine to Nigeria, accounting for a 54% share of total imports. Moreover, fluorine, chlorine, bromine and iodine imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Bangladesh (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.7% per year) and Bangladesh (0.0% per year).

In value terms, Germany ($X), India ($X) and Singapore ($X) appeared to be the largest fluorine, chlorine, bromine and iodine suppliers to Nigeria, with a combined 71% share of total imports.

Among the main suppliers, Singapore, with a CAGR of +70.0%, recorded 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

The average import price for fluorine, chlorine, bromine and iodines stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluorine, chlorine, bromine and iodine import price increased by +39.2% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 47%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Bangladesh ($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 United States (+20.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform