Report Update Nov 1, 2024

Nigeria - Oxides of Boron, Boric Acids and Inorganic Acids - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Nigeria

In 2022, the Nigerien oxides of boron market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed notable growth. Oxides of boron consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Oxides Of Boron Production in Nigeria

In value terms, oxides of boron production reduced to $X in 2022 estimated in export price. In general, production, however, posted a perceptible increase. The pace of growth appeared the most rapid in 2018 with an increase of 176% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Oxides Of Boron Exports

Exports from Nigeria

In 2022, overseas shipments of oxides of boron, boric acids and inorganic acids decreased by -98.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 815%. As a result, the exports attained the peak of X tons, and then shrank markedly in the following year.

In value terms, oxides of boron exports dropped markedly to $X in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

Benin (X tons) and Niger (X tons) were the main destinations of oxides of boron exports from Nigeria.

From 2018 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Benin (with a CAGR of +146.7%).

In value terms, Benin ($X) and Niger ($X) were the largest markets for oxides of boron exported from Nigeria worldwide.

Among the main countries of destination, Niger, with a CAGR of +136.9%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average oxides of boron export price stood at $X per ton in 2022, jumping by 160% against the previous year. In general, the export price, however, showed a abrupt decline. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Niger totaled $X per ton.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+10.7%), while the prices for the other major destinations experienced a decline.

Oxides Of Boron Imports

Imports into Nigeria

In 2022, after four years of growth, there was significant decline in purchases abroad of oxides of boron, boric acids and inorganic acids, when their volume decreased by -67.1% to X tons. In general, imports, however, saw a mild expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 750% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, oxides of boron imports shrank remarkably to $X in 2022. Over the period under review, imports, however, saw a modest increase. The most prominent rate of growth was recorded in 2013 with an increase of 478% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India (X tons), Turkey (X tons) and South Korea (X tons) were the main suppliers of oxides of boron imports to Nigeria, with a combined 60% share of total imports. The United States, China, Spain and the Netherlands lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oxides of boron suppliers to Nigeria were India ($X), South Korea ($X) and Turkey ($X), together comprising 65% of total imports.

Turkey, with a CAGR of +26.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 oxides of boron import price amounted to $X per ton, picking up by 47% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

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 India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.1%), 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 oxides of boron, boric acids and inorganic acids in the world?

The countries with the highest volumes of in 2021 were China, Turkey and the United States, with a combined 42% share of global consumption. These countries were followed by Sweden, Germany, Taiwan Chinese), South Korea, Brazil, France, Argentina, Canada, Spain and Chile, which together accounted for a further 32%.

What are the largest producers of oxides of boron, boric acids and inorganic acids in the world?

The countries with the highest volumes of in 2021 were Turkey, the United States and Chile, with a combined 62% share of global production. These countries were followed by Russia, Finland, Jordan, Israel, Argentina, Peru, Germany, Bolivia, the Netherlands and Taiwan Chinese), which together accounted for a further 34%.

What are the leading suppliers of oxides of boron, boric acids and inorganic acids to Nigeria?

In value terms, the largest oxides of boron suppliers to Nigeria were India, France and the United Arab Emirates, with a combined 60% share of total imports.

What are the leading importers of oxides of boron, boric acids and inorganic acids from Nigeria?

In value terms, Niger remains the key foreign market for oxides of boron exports from Nigeria, comprising 72% of total exports. The second position in the ranking was occupied by Benin, with a 28% share of total exports.

What is the average export price for oxides of boron, boric acids and inorganic acids in Nigeria?

In 2021, the average oxides of boron export price amounted to $533 per ton, rising by 4.6% against the previous year.

What is the average import price for oxides of boron, boric acids and inorganic acids in Nigeria?

The average oxides of boron import price stood at $1,342 per ton in 2021, waning by -12.5% against the previous year.

This report provides an in-depth analysis of the oxides of boron 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 20132460 - Oxides of boron, boric acids, inorganic acids (excluding hydrogen fluoride)

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:

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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
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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