Report Update Nov 1, 2024

Nigeria - Prepared Explosives - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Explosives Market 2024

Explosives Market Size in Nigeria

In 2021, the Nigerien explosives market decreased by -24.7% to $X, falling for the third year in a row after two years of growth. In general, consumption continues to indicate a abrupt decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Explosives Exports

Exports from Nigeria

In 2021, after eight years of decline, there was significant growth in shipments abroad of prepared explosives, when their volume increased by 158% to X tons. Overall, exports, however, saw a sharp shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, explosives exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a deep downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

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

From 2012 to 2021, the average annual growth rate of volume to Niger stood at -34.0%.

In value terms, Niger ($X) also remains the key foreign market for prepared explosives exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger stood at -6.2%.

Export Prices by Country

The average explosives export price stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 110% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the rate of growth in terms of prices for Niger amounted to +42.1% per year.

Explosives Imports

Imports into Nigeria

In 2021, imports of prepared explosives into Nigeria shrank to X tons, which is down by -14.9% on 2020 figures. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 367%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, explosives imports contracted markedly to $X in 2021. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 305%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

South Africa (X tons), Spain (X tons) and Poland (X tons) were the main suppliers of explosives imports to Nigeria, together accounting for 68% of total imports. India, South Korea, Singapore, the United States, France, the Czech Republic and the UK lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +2,219.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of prepared explosives to Nigeria, comprising 38% of total imports. The second position in the ranking was held by Singapore ($X), with a 16% share of total imports. It was followed by Poland, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-4.1% per year) and Poland (-14.7% per year).

Import Prices by Country

The average explosives import price stood at $X per ton in 2021, waning by -20.6% against the previous year. Over the period under review, the import price showed a noticeable contraction. The pace of growth was the most pronounced in 2019 an increase of 92%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average 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 the UK ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+96.9%), 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 prepared explosives in the world?

The countries with the highest volumes of explosives consumption in 2020 were China, Norway and the United States, with a combined 41% share of global consumption.

What are the largest producers of prepared explosives in the world?

The countries with the highest volumes of explosives production in 2020 were China, Norway and the United States, with a combined 42% share of global production.

What are the leading suppliers of prepared explosives to Nigeria?

In value terms, Russia constituted the largest supplier of explosives to Nigeria.

What are the leading importers of prepared explosives from Nigeria?

In value terms, Niger remains the key foreign market for explosives exports from Nigeria.

What is the average export price for prepared explosives in Nigeria?

In 2020, the average explosives export price amounted to $4,718 per ton, surging by 40% against the previous year.

What is the average import price for prepared explosives in Nigeria?

The average explosives import price stood at $5,132 per ton in 2020, shrinking by -34.6% against the previous year.

This report provides an in-depth analysis of the explosives 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 20511150 - Prepared explosives (excluding propellant powders)

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