Report Update Nov 1, 2024

Nigeria - Industrial Diamonds, Dust and Powder of Precious or Semi-Precious Stones - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Industrial Diamonds Market 2022

Industrial Diamonds Market Size in Nigeria

The Nigerien industrial diamonds market soared to $X in 2021, increasing by X% against the previous year. Over the period under review, consumption continues to indicate a significant expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Industrial Diamonds Production in Nigeria

In value terms, industrial diamonds production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Industrial Diamonds Exports

Exports from Nigeria

After two years of growth, overseas shipments of industrial diamonds, dust and powder of precious or semi-precious stones decreased by -X% to X tons in 2021. Over the period under review, exports continue to indicate a significant curtailment. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, industrial diamonds exports amounted to $X in 2021. Overall, exports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Gambia (X tons) was the main destination for industrial diamonds exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Gambia amounted to -X%.

In value terms, Gambia ($X) also remains the key foreign market for industrial diamonds exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Gambia stood at -X%.

Export Prices by Country

The average industrial diamonds export price stood at $X per kg in 2021, growing by X% against the previous year. Overall, the export price enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the rate of growth in terms of prices for Gambia amounted to +X% per year.

Industrial Diamonds Imports

Imports into Nigeria

In 2021, the amount of industrial diamonds, dust and powder of precious or semi-precious stones imported into Nigeria skyrocketed to X tons, growing by X% against the previous year. Overall, imports showed a significant increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, industrial diamonds imports dropped markedly to $X in 2021. Over the period under review, imports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

China (X tons), the United States (X tons) and India (X tons) were the main suppliers of industrial diamonds imports to Nigeria, together comprising X% of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

The average industrial diamonds import price stood at less than $X per kg in 2021, dropping by -X% against the previous year. Overall, the import price saw a precipitous contraction. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per kg in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China (less than $X per kg), while the price for the United States (less than $X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for industrial diamonds, dust and powder of precious or semi-precious stones in the world?

The country with the largest volume of industrial diamonds consumption was Thailand, comprising approx. 81% of total volume. Moreover, industrial diamonds consumption in Thailand exceeded the figures recorded by the second-largest consumer, Spain, more than tenfold. China ranked third in terms of total consumption with a 4.8% share.

What are the largest producers of industrial diamonds, dust and powder of precious or semi-precious stones in the world?

China constituted the country with the largest volume of industrial diamonds production, accounting for 78% of total volume. Moreover, industrial diamonds production in China exceeded the figures recorded by the second-largest producer, Namibia, eightfold. Central African Republic ranked third in terms of total production with a 2.7% share.

What are the leading suppliers of industrial diamonds, dust and powder of precious or semi-precious stones to Nigeria?

In value terms, China constituted the largest supplier of industrial diamonds to Nigeria, comprising 99% of total imports. The second position in the ranking was occupied by India $35), with a 0.8% share of total imports.

What are the leading importers of industrial diamonds, dust and powder of precious or semi-precious stones from Nigeria?

In value terms, Gambia remains the key foreign market for industrial diamonds exports from Nigeria.

What is the average export price for industrial diamonds, dust and powder of precious or semi-precious stones in Nigeria?

The average industrial diamonds export price stood at $8.5 per kg in 2021, rising by 71% against the previous year.

What is the average import price for industrial diamonds, dust and powder of precious or semi-precious stones in Nigeria?

The average industrial diamonds import price stood at $0.4 per kg in 2021, with a decrease of -7.7% against the previous year.

This report provides an in-depth analysis of the industrial diamonds 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 32121200 - Industrial diamonds, worked, dust and powder of natural or synthetic precious or semi-precious stones

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