Report Update Nov 1, 2024

Nigeria - Phosphoric Acid and Polyphosphoric Acids - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Nigeria

The Nigerien phosphoric acid market soared to $X in 2022, surging by 109% 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). Overall, consumption posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Phosphoric Acid Exports

Exports from Nigeria

In 2013, the amount of phosphoric acid and polyphosphoric acids exported from Nigeria contracted rapidly to X tons, falling by -84.4% against 2012. In general, exports saw a precipitous contraction. Over the period under review, the exports reached the maximum at X tons in 2012, and then declined significantly in the following year.

In value terms, phosphoric acid exports dropped sharply to $X in 2013. Overall, exports saw a dramatic curtailment. The exports peaked at $X in 2012, and then dropped sharply in the following year.

Exports by Country

Niger (X tons) was the main destination for phosphoric acid exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2013, the average annual rate of growth in terms of volume to Niger stood at -84.4%.

In value terms, Niger ($X) also remains the key foreign market for phosphoric acid and polyphosphoric acids exports from Nigeria.

From 2012 to 2013, the average annual growth rate of value to Niger totaled -86.1%.

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2013, falling by -11% against the previous year. Over the period under review, the export price showed a abrupt descent. Over the period under review, the average export prices hit record highs at $X per ton in 2012, and then dropped in the following year.

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

From 2012 to 2013, the rate of growth in terms of prices for Niger amounted to -11.0% per year.

Phosphoric Acid Imports

Imports into Nigeria

In 2022, imports of phosphoric acid and polyphosphoric acids into Nigeria skyrocketed to X tons, picking up by 77% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 177%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, phosphoric acid imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 189%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main phosphoric acid supplier to Nigeria, accounting for a 92% share of total imports. It was followed by Belgium (X tons), with a 2.9% share of total imports. The third position in this ranking was taken by South Africa (X tons), with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-10.3% per year) and South Africa (-15.1% per year).

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Nigeria, comprising 90% of total imports. The second position in the ranking was held by Belgium ($X), with a 4.7% share of total imports. It was followed by South Africa, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-12.3% per year) and South Africa (-16.4% per year).

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, rising by 37% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphoric acid import price increased by +38.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 47%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+6.8%), 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 phosphoric acid and polyphosphoric acids in the world?

The countries with the highest volumes of in 2021 were India, Russia and China, together comprising 65% of global consumption.

What are the largest producers of phosphoric acid and polyphosphoric acids in the world?

The countries with the highest volumes of in 2021 were China, Russia and Morocco, with a combined 68% share of global production. The United States, Jordan, Japan, Senegal, Egypt and Mexico lagged somewhat behind, together comprising a further 17%.

What are the leading suppliers of phosphoric acid and polyphosphoric acids to Nigeria?

In value terms, China constituted the largest supplier of phosphoric acid to Nigeria, comprising 71% of total imports. The second position in the ranking was occupied by Belgium, with a 15% share of total imports. It was followed by Brazil, with a 3.7% share.

What is the average export price for phosphoric acid and polyphosphoric acids in Nigeria?

The average phosphoric acid export price stood at $758 per ton in 2013, waning by -11% against the previous year.

What is the average import price for phosphoric acid and polyphosphoric acids in Nigeria?

In 2021, the average phosphoric acid import price amounted to $1,118 per ton, increasing by 25% against the previous year.

This report provides an in-depth analysis of the phosphoric 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 20132455 - Phosphoric acid and polyphosphoric acids

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