Report Update Nov 1, 2024

Nigeria - Prepared Binders for Foundry Moulds or Cores - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Prepared Binders Market 2024

Prepared Binders Market Size in Nigeria

After four years of decline, the Nigerien prepared binders market increased by 6.3% to $X in 2021. Overall, consumption showed a buoyant increase. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Prepared Binders Production in Nigeria

In value terms, prepared binders production expanded remarkably to $X in 2021 estimated in export price. Overall, production posted a strong increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 157%. Prepared binders production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Prepared Binders Exports

Exports from Nigeria

In 2021, the amount of prepared binders for foundry moulds or cores exported from Nigeria rose markedly to X tons, with an increase of 9.9% compared with the previous year. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 4,740% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, prepared binders exports shrank to $X in 2021. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 134% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons) was the main destination for prepared binders exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt was relatively modest.

In value terms, Egypt ($X) emerged as the key foreign market for prepared binders for foundry moulds or cores exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt was relatively modest.

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, waning by -18.3% against the previous year. In general, the export price recorded a precipitous decrease. The most prominent rate of growth was recorded in 2015 an increase of 28%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Belgium amounted to 0.0% per year.

Prepared Binders Imports

Imports into Nigeria

In 2021, overseas purchases of prepared binders for foundry moulds or cores decreased by -61.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 558%. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined markedly in the following year.

In value terms, prepared binders imports declined remarkably to $X in 2021. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 456% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then contracted rapidly in the following year.

Imports by Country

South Korea (X tons), China (X tons) and India (X tons) were the main suppliers of prepared binders imports to Nigeria, with a combined 86% share of total imports. The UK, Italy and France lagged somewhat behind, together accounting for a further 9%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +74.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Nigeria, comprising 51% of total imports. The second position in the ranking was taken by China ($X), with a 23% share of total imports. It was followed by India, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled +44.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.8% per year) and India (+38.5% per year).

Import Prices by Country

The average prepared binders import price stood at $X per ton in 2021, reducing by -15.7% against the previous year. Overall, the import price saw a perceptible decline. The pace of growth appeared the most rapid in 2016 an increase of 59%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for prepared binders for foundry moulds or cores in the world?

China constituted the country with the largest volume of prepared binders consumption, comprising approx. 23% of total volume. Moreover, prepared binders consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with an 8.8% share.

What are the largest producers of prepared binders for foundry moulds or cores in the world?

China constituted the country with the largest volume of prepared binders production, comprising approx. 24% of total volume. Moreover, prepared binders production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. Germany ranked third in terms of total production with a 9.9% share.

What are the leading suppliers of prepared binders for foundry moulds or cores to Nigeria?

In value terms, the largest prepared binders suppliers to Nigeria were Italy, China and Germany, with a combined 81% share of total imports.

What is the average export price for prepared binders for foundry moulds or cores in Nigeria?

The average prepared binders export price stood at $436 per ton in 2020, which is down by -10.1% against the previous year.

What is the average import price for prepared binders for foundry moulds or cores in Nigeria?

The average prepared binders import price stood at $1,027 per ton in 2020, which is down by -2.4% against the previous year.

This report provides an in-depth analysis of the prepared binders 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 20595720 - Prepared binders for foundry moulds or cores

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