Report Update Nov 1, 2024

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

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Nigeria: Monophenols Market 2024

Monophenols Market Size in Nigeria

In 2021, after six years of growth, there was decline in the Nigerien monophenols market, when its value decreased by -3.6% to $X. In general, consumption recorded a buoyant expansion. Monophenols consumption peaked at $X in 2020, and then dropped modestly in the following year.

Monophenols Production in Nigeria

In value terms, monophenols production contracted modestly to $X in 2021 estimated in export price. In general, production posted a resilient increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 57% against the previous year. Monophenols production peaked at $X in 2020, and then declined modestly in the following year.

Monophenols Exports

Exports from Nigeria

Monophenols exports from Nigeria stood at X tons in 2021, stabilizing at the previous year's figure. Over the period under review, exports continue to indicate a mild downturn. The smallest decline of -23.1% was in 2019. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, monophenols exports totaled $X in 2021. Overall, exports saw a significant increase. The growth pace was the most rapid in 2019 when exports increased by 20% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X tons) was the main destination for monophenols exports from Nigeria, accounting for a approx. 100% share of total exports.

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

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

Export Prices by Country

The average monophenols export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the export price saw a significant expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

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

From 2013 to 2021, the rate of growth in terms of prices for Ghana amounted to +56.1% per year.

Monophenols Imports

Imports into Nigeria

In 2021, the amount of monophenols imported into Nigeria shrank significantly to X tons, which is down by -24.2% against the year before. Over the period under review, imports, however, posted significant growth. The growth pace was the most rapid in 2020 when imports increased by 179%. As a result, imports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, monophenols imports reduced markedly to $X in 2021. In general, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 178% against the previous year. As a result, imports attained the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of monophenols to Nigeria, with a 33% share of total imports. Moreover, monophenols imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+29.1% per year) and Germany (+23.6% per year).

In value terms, China ($X), South Africa ($X) and Germany ($X) constituted the largest monophenols suppliers to Nigeria, together accounting for 41% of total imports. The UK, the Czech Republic, the Netherlands, India and Belgium lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +40.0%, recorded the highest growth rate of 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

The average monophenols import price stood at $X per ton in 2021, declining by -19.1% against the previous year. Overall, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2018 an increase of 30% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for monophenols in the world?

The country with the largest volume of monophenols consumption was China, comprising approx. 27% of total volume. Moreover, monophenols consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by the United States, with a 6.2% share.

What are the largest producers of monophenols in the world?

The country with the largest volume of monophenols production was China, accounting for 25% of total volume. Moreover, monophenols production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 7.7% share.

What are the leading suppliers of monophenols to Nigeria?

In value terms, the Czech Republic, South Africa and India appeared to be the largest monophenols suppliers to Nigeria, with a combined 60% share of total imports.

What are the leading importers of monophenols from Nigeria?

In value terms, Ghana remains the key foreign market for monophenols exports from Nigeria.

What is the average export price for monophenols in Nigeria?

The average monophenols export price stood at $5,940 per ton in 2019, declining by -3% against the previous year.

What is the average import price for monophenols in Nigeria?

The average monophenols import price stood at $2,259 per ton in 2020, rising by 9.8% against the previous year.

This report provides an in-depth analysis of the monophenols 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 20142410 - Monophenols

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