Report Update Nov 1, 2024

Nigeria - Phenylacetic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Nigeria

The Nigerien phenylacetic acid market rose remarkably to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate modest growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Phenylacetic Acid Exports

Exports from Nigeria

In 2022, phenylacetic acid exports from Nigeria contracted to X kg, waning by X% compared with the year before. In general, exports saw a precipitous slump. Over the period under review, the exports attained the maximum at X kg in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports reduced to $X in 2022. Over the period under review, exports faced a dramatic decline. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) and Ireland (X kg) were the main destinations of phenylacetic acid exports from Nigeria.

From 2015 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%).

In value terms, the Netherlands ($X) emerged as the key foreign market for phenylacetic acid, its salts and esters exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Ireland ($X), with a X% share of total exports.

From 2015 to 2022, the average annual growth rate of value to the Netherlands stood at X%.

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price, however, saw a notable increase. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined slightly in the following year.

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

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%).

Phenylacetic Acid Imports

Imports into Nigeria

In 2022, the amount of phenylacetic acid, its salts and esters imported into Nigeria surged to X tons, with an increase of X% on the year before. Overall, imports showed temperate growth. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, phenylacetic acid imports reduced notably to $X in 2022. In general, imports, however, saw a noticeable slump. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Sierra Leone (X tons) constituted the largest supplier of phenylacetic acid to Nigeria, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from Sierra Leone exceeded the figures recorded by the second-largest supplier, Cote d'Ivoire (X tons), twofold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sierra Leone was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and India (X% per year).

In value terms, India ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sierra Leone (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average phenylacetic acid import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for phenylacetic acid, its salts and esters in the world?

China remains the largest phenylacetic acid consuming country worldwide, comprising approx. 24% of total volume. Moreover, phenylacetic acid consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 6.8% share.

What are the largest producers of phenylacetic acid, its salts and esters in the world?

China constituted the country with the largest volume of phenylacetic acid production, comprising approx. 50% of total volume. Moreover, phenylacetic acid production in China exceeded the figures recorded by the second-largest producer, India, eightfold. Pakistan ranked third in terms of total production with a 4.9% share.

What are the leading suppliers of phenylacetic acid, its salts and esters to Nigeria?

In value terms, India constituted the largest supplier of phenylacetic acid to Nigeria, comprising 89% of total imports. The second position in the ranking was occupied by the United States, with a 2.1% share of total imports.

What is the average export price for phenylacetic acid, its salts and esters in Nigeria?

The average phenylacetic acid export price stood at $10,419 per ton in 2017, leveling off at the previous year.

What is the average import price for phenylacetic acid, its salts and esters in Nigeria?

In 2020, the average phenylacetic acid import price amounted to $11,959 per ton, growing by 28% against the previous year.

This report provides an in-depth analysis of the phenylacetic acid 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 20143367 - Phenylacetic acid, its salts and esters
Prodcom 20143370 - Aromatic monocarboxylic acids, (anhydrides), halides, p eroxides, peroxyacids, derivatives excluding benzoic acid, p henylacetic acids their salts/esters, benzoyl peroxide, b enzoyl chloride

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