Report Update Nov 1, 2024

Nigeria - Salts of Acetic Acid - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Nigeria

In 2022, the Nigerien salts of acetic acid market increased by 71% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption recorded a tangible expansion. Salts of acetic acid consumption peaked in 2022 and is likely to see gradual growth in the near future.

Exports of Salts Of Acetic Acid

Exports from Nigeria

In 2022, approx. X tons of salts of acetic acid were exported from Nigeria; with an increase of 1,502% compared with the previous year's figure. In general, exports showed a significant expansion. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, salts of acetic acid exports skyrocketed to $X in 2022. Overall, exports posted a significant increase. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to Niger amounted to +21.1%.

In value terms, Niger ($X) also remains the key foreign market for salts of acetic acid exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Niger totaled +21.0%.

Export Prices by Country

The average salts of acetic acid export price stood at $X per ton in 2022, with a decrease of -18% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 82%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, 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 Niger.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -0.1% per year.

Imports of Salts Of Acetic Acid

Imports into Nigeria

In 2022, overseas purchases of salts of acetic acid increased by 101% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 148%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. In general, imports recorded a notable increase. The pace of growth was the most pronounced in 2017 when imports increased by 114% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of salts of acetic acid to Nigeria, with a 75% share of total imports. Moreover, salts of acetic acid imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was held by South Africa (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.6% per year) and South Africa (+120.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of salts of acetic acid to Nigeria, comprising 84% of total imports. The second position in the ranking was taken by China ($X), with a 5.1% share of total imports. It was followed by Germany, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.4% per year) and Germany (+47.8% per year).

Import Prices by Country

The average salts of acetic acid import price stood at $X per ton in 2022, which is down by -18.6% against the previous year. Over the period under review, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 58% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salts of acetic acid in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 45% of global consumption. Japan, Russia, Brazil, Germany, Mexico, Democratic Republic of the Congo, Thailand and France lagged somewhat behind, together accounting for a further 26%.

What are the largest producers of salts of acetic acid in the world?

China constituted the country with the largest volume of salts of acetic acid production, comprising approx. 33% of total volume. Moreover, salts of acetic acid production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. India ranked third in terms of total production with a 7.4% share.

What are the leading suppliers of salts of acetic acid to Nigeria?

In value terms, Belgium constituted the largest supplier of salts of acetic acid to Nigeria, comprising 74% of total imports. The second position in the ranking was occupied by France, with a 16% share of total imports. It was followed by China, with a 5.3% share.

What is the average export price for salts of acetic acid in Nigeria?

In 2019, the average salts of acetic acid export price amounted to $862 per ton, reducing by -2.4% against the previous year.

What is the average import price for salts of acetic acid in Nigeria?

In 2021, the average salts of acetic acid import price amounted to $2,583 per ton, falling by -6.1% against the previous year.

This report provides an in-depth analysis of the market for salts of acetic acid 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 20143278 - Salts of acetic acid

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