Report Update Nov 1, 2024

Nigeria - Ketones and Quinones - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Nigeria

The Nigerien ketone and quinone market skyrocketed to $X in 2021, with an increase of 58% 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). Overall, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the near future.

Ketone And Quinone Exports

Exports from Nigeria

After two years of decline, overseas shipments of ketones and quinones increased by 104% to X tons in 2021. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 312%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ketone and quinone exports dropped markedly to $X in 2021. Over the period under review, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 680%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Benin (X tons) was the main destination for ketone and quinone exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to +4.1%.

From 2012 to 2021, the average annual growth rate of value to Benin stood at +5.0%.

Export Prices by Country

The average ketone and quinone export price stood at $X per ton in 2021, falling by -66.3% against the previous year. Over the period under review, the export price faced a deep setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 183%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a 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 Niger amounted to +17.1% per year.

Ketone And Quinone Imports

Imports into Nigeria

In 2021, imports of ketones and quinones into Nigeria soared to X tons, increasing by 29% on 2020. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 101%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, ketone and quinone imports soared to $X in 2021. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 121%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ketone and quinone to Nigeria, with a 50% share of total imports. Moreover, ketone and quinone imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +34.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+11.7% per year) and India (+34.0% per year).

In value terms, China ($X) constituted the largest supplier of ketones and quinones to Nigeria, comprising 59% of total imports. The second position in the ranking was held by South Africa ($X), with a 17% share of total imports. It was followed by India, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+11.3% per year) and India (+32.0% per year).

Import Prices by Country

In 2021, the average ketone and quinone import price amounted to $X per ton, surging by 39% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 China ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+11.5%), 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 ketones and quinones in the world?

The countries with the highest volumes of ketone and quinone consumption in 2020 were China, the United States and Spain, together accounting for 35% of global consumption. India, Taiwan Chinese), Russia, Japan, Italy, Germany, Mexico, the UK, France and South Korea lagged somewhat behind, together accounting for a further 38%.

What are the largest producers of ketones and quinones in the world?

The countries with the highest volumes of ketone and quinone production in 2020 were the United States, Japan and Spain, together comprising 29% of global production. Taiwan Chinese), Saudi Arabia, Russia, China, South Korea, South Africa, Thailand, India and Singapore lagged somewhat behind, together accounting for a further 51%.

What are the leading suppliers of ketones and quinones to Nigeria?

In value terms, China constituted the largest supplier of ketone and quinone to Nigeria, comprising 42% of total imports. The second position in the ranking was occupied by South Africa, with a 19% share of total imports. It was followed by Taiwan Chinese), with a 5.5% share.

What are the leading importers of ketones and quinones from Nigeria?

In value terms, the largest markets for ketone and quinone exported from Nigeria were Canada $70) and Belgium $46).

What is the average export price for ketones and quinones in Nigeria?

In 2020, the average ketone and quinone export price amounted to $6,105 per ton, rising by 143% against the previous year.

What is the average import price for ketones and quinones in Nigeria?

In 2020, the average ketone and quinone import price amounted to $1,400 per ton, reducing by -13.5% against the previous year.

This report provides an in-depth analysis of the ketone and quinone 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 20146211 - Acetone
Prodcom 20146213 - Butanone (methyl ethyl ketone)
Prodcom 20146215 - 4-Methylpentan-2-one (methyl isobutyl ketone)
Prodcom 20146219 - Acyclic ketones, without other oxygen function (excluding acetone, butanone (methyl ethyl ketone), 4-methylpentan-2one (methyl isobutyl ketone))
Prodcom 20146231 - Camphor, aromatic ketones without other oxygen function, k etone-alcohols, ketone-aldehydes, ketone-phenols and ketones with other oxygen function
Prodcom 20146233 - Cyclohexanone and methylcyclohexanones
Prodcom 20146235 - Ionones and methylionones
Prodcom 20146239 - Cyclanic, cyclenic or cycloterpenic ketones without other oxygen function (excluding camphor, cyclohexanone and methylcyclohexanones, ionones and methylionones)
Prodcom 20146260 - Quinones
Prodcom 20146270 - Halogenated, sulphonated, nitrated or nitrosated derivatives of ketones and quinones

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