Nigeria: Market for Limestone Flux, Limestone And Calcareous Stone 2024

Market Size for Limestone Flux, Limestone And Calcareous Stone in Nigeria

The Nigerien limestone flux and limestone market totaled $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Limestone Flux, Limestone And Calcareous Stone in Nigeria

In value terms, limestone flux and limestone production reduced to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 59% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Limestone Flux, Limestone And Calcareous Stone

Exports from Nigeria

Limestone flux and limestone exports from Nigeria dropped to X tons in 2022, declining by -5.6% compared with the previous year's figure. In general, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2018 when exports increased by 838%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, limestone flux and limestone exports shrank significantly to $X in 2022. Over the period under review, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 1,205% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Niger (X tons) was the main destination for limestone flux and limestone exports from Nigeria, with a 74% share of total exports. Moreover, limestone flux and limestone exports to Niger exceeded the volume sent to the second major destination, China (X tons), fourfold. Germany (X kg) ranked third in terms of total exports with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Niger stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-7.6% per year) and Germany (-45.6% per year).

In value terms, the largest markets for limestone flux and limestone exported from Nigeria were Niger ($X), China ($X) and Germany ($X), with a combined 87% share of total exports.

Niger, with a CAGR of +37.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average limestone flux and limestone export price amounted to $X per ton, which is down by -14.3% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 139% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Limestone Flux, Limestone And Calcareous Stone

Imports into Nigeria

In 2022, the amount of limestone flux, limestone and calcareous stone imported into Nigeria skyrocketed to X tons, rising by 80% on the previous year. In general, imports showed significant growth. The pace of growth was the most pronounced in 2014 with an increase of 609% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, limestone flux and limestone imports stood at $X in 2022. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 329% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest limestone flux and limestone supplier to Nigeria, with a 23% share of total imports. Moreover, limestone flux and limestone imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +125.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+57.1% per year) and Turkey (+34.9% per year).

In value terms, the largest limestone flux and limestone suppliers to Nigeria were China ($X), Denmark ($X) and Spain ($X), with a combined 55% share of total imports.

In terms of the main suppliers, China, with a CAGR of +107.6%, recorded the highest rates of growth with regard to 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

In 2022, the average limestone flux and limestone import price amounted to $X per ton, dropping by -40.3% against the previous year. In general, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+103.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :