Report Update Nov 1, 2024

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

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Nigeria: Fluorspar Market 2024

Fluorspar Market Size in Nigeria

In 2021, the Nigerien fluorspar market decreased by -38.4% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, saw a prominent expansion. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Fluorspar Production in Nigeria

In value terms, fluorspar production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a significant increase. Fluorspar production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Fluorspar Exports

Exports from Nigeria

Fluorspar exports from Nigeria soared to X tons in 2021, jumping by 2,884% compared with the previous year's figure. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fluorspar exports skyrocketed to $X in 2021. Overall, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for fluorspar exports from Nigeria, accounting for a 82% share of total exports. Moreover, fluorspar exports to China exceeded the volume sent to the second major destination, India (X tons), sevenfold.

From 2014 to 2021, the average annual growth rate of volume to China stood at +3,597.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+988.5% per year) and Indonesia (0.0% per year).

In value terms, China ($X), India ($X) and Indonesia ($X) appeared to be the largest markets for fluorspar exported from Nigeria worldwide, with a combined 96% share of total exports.

Among the main countries of destination, India, with a CAGR of +1,341.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fluorspar export price amounted to $X per ton, shrinking by -58.3% against the previous year. In general, the export price faced a deep setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 355%. 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 remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+32.6%).

Fluorspar Imports

Imports into Nigeria

In 2021, approx. X tons of fluorspar were imported into Nigeria; with a decrease of -37.7% compared with the previous year. Overall, imports, however, continue to indicate a perceptible expansion. The growth pace was the most rapid in 2013 when imports increased by 149%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, fluorspar imports reduced remarkably to $X in 2021. Over the period under review, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 169% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main fluorspar supplier to Nigeria, with a 96% share of total imports. Moreover, fluorspar imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +10.6%.

In value terms, China ($X) constituted the largest supplier of fluorspar to Nigeria, comprising 88% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.9%.

Import Prices by Country

The average fluorspar import price stood at $X per ton in 2021, with an increase of 5.6% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fluorspar import price decreased by -38.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 69% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fluorspar in the world?

The country with the largest volume of fluorspar consumption was China, comprising approx. 63% of total volume. Moreover, fluorspar consumption in China exceeded the figures recorded by the second-largest consumer, Mexico, ninefold. The United States ranked third in terms of total consumption with a 4.1% share.

What are the largest producers of fluorspar in the world?

The country with the largest volume of fluorspar production was China, accounting for 63% of total volume. Moreover, fluorspar production in China exceeded the figures recorded by the second-largest producer, Mexico, sixfold. The third position in this ranking was occupied by Mongolia, with an 8% share.

What are the leading suppliers of fluorspar to Nigeria?

In value terms, China constituted the largest supplier of fluorspar to Nigeria, comprising 85% of total imports. The second position in the ranking was occupied by India, with a 15% share of total imports.

What are the leading importers of fluorspar from Nigeria?

In value terms, China and India appeared to be the largest markets for fluorspar exported from Nigeria worldwide.

What is the average export price for fluorspar in Nigeria?

The average fluorspar export price stood at $197 per ton in 2020, dropping by -7.2% against the previous year.

What is the average import price for fluorspar in Nigeria?

The average fluorspar import price stood at $352 per ton in 2020, with a decrease of -39.3% against the previous year.

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

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