Nigeria: Market for Lauric Acid And Other Acids, Their Salts And Esters 2025

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Nigeria

After four years of decline, the Nigerien market for lauric acid and other acids, their salts and esters increased by 9.6% to $X in 2021. Over the period under review, consumption continues to indicate a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Nigeria

After two years of growth, shipments abroad of lauric acid and other acids, their salts and esters decreased by -20% to X kg in 2021. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 40%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of lauric acid and other acids, their salts and esters fell significantly to $X in 2021. Overall, exports showed a dramatic decrease. The most prominent rate of growth was recorded in 2020 with an increase of 35%. Over the period under review, the exports of attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Kenya (X kg) was the main destination for exports of lauric acid and other acids, their salts and esters from Nigeria, with a approx. 100% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Kenya was relatively modest.

In value terms, Kenya ($X) emerged as the key foreign market for lauric acid and other acids, their salts and esters exports from Nigeria.

From 2013 to 2021, the average annual growth rate of value to Kenya was relatively modest.

Export Prices by Country

In 2021, the average export price for lauric acid and other acids, their salts and esters amounted to $X per ton, flattening at the previous year. Overall, the export price saw a abrupt slump. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2013 to 2021, the rate of growth in terms of prices for Niger amounted to +41.2% per year.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Nigeria

In 2021, overseas purchases of lauric acid and other acids, their salts and esters decreased by -4.2% to X tons, falling for the fifth consecutive year after three years of growth. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 11%. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Over the period under review, imports saw a abrupt descent. The pace of growth was the most pronounced in 2016 when imports increased by 31% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of lauric acid and other acids, their salts and esters to Nigeria, accounting for a 81% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from Brazil exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.7% per year) and India (-4.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to Nigeria, comprising 55% of total imports. The second position in the ranking was held by the United States ($X), with a 9.4% share of total imports. It was followed by China, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.6% per year) and China (-17.4% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, jumping by 26% against the previous year. In general, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for lauric acid and other acids, their salts and esters increased by +148.1% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 84%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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