Nigeria: Market for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds 2024

Market Size for Organo-Sulphur Compounds And Other Organo-Inorganic Compounds in Nigeria

In 2022, the Nigerien market for organo-sulphur compounds and other organo-inorganic compounds decreased by -16.2% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a notable expansion. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Exports from Nigeria

In 2022, shipments abroad of organo-sulphur compounds and other organo-inorganic compounds decreased by -89.5% to X kg, falling for the second year in a row after two years of decline. Overall, exports continue to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2018 when exports increased by 8,549% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of organo-sulphur compounds and other organo-inorganic compounds reduced notably to $X in 2022. In general, exports recorded a precipitous descent. The most prominent rate of growth was recorded in 2018 when exports increased by 1,910% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for exports of organo-sulphur compounds and other organo-inorganic compounds from Nigeria, accounting for a 88% share of total exports. Moreover, exports of organo-sulphur compounds and other organo-inorganic compounds to the United States exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average export price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, increasing by 126% against the previous year. In general, the export price posted a perceptible increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 130% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Organo-Sulphur Compounds And Other Organo-Inorganic Compounds

Imports into Nigeria

In 2022, overseas purchases of organo-sulphur compounds and other organo-inorganic compounds decreased by -16.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 109%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of organo-sulphur compounds and other organo-inorganic compounds shrank notably to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 104%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and Belgium (X tons) were the main suppliers of imports of organo-sulphur compounds and other organo-inorganic compounds to Nigeria, with a combined 48% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +38.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), China ($X) and Belgium ($X) were the largest organo-sulphur compounds and other organo-inorganic compounds suppliers to Nigeria, together comprising 53% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +28.2%, saw 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

In 2022, the average import price for organo-sulphur compounds and other organo-inorganic compounds amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, showed a deep reduction. The growth pace was the most rapid in 2018 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 China ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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