Nigeria: Market for Saturated Acyclic Monocarboxylic Acids 2025

Market Size for Saturated Acyclic Monocarboxylic Acids in Nigeria

In 2022, the Nigerien saturated acyclic monocarboxylic acids market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Saturated acyclic monocarboxylic acids consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Saturated Acyclic Monocarboxylic Acids in Nigeria

In value terms, saturated acyclic monocarboxylic acids production expanded rapidly to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports from Nigeria

For the fourth consecutive year, Nigeria recorded decline in shipments abroad of saturated acyclic monocarboxylic acids, which decreased by X% to X kg in 2022. Over the period under review, exports, however, recorded moderate growth. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X kg) was the main destination for saturated acyclic monocarboxylic acids exports from Nigeria, accounting for a X% share of total exports. Moreover, saturated acyclic monocarboxylic acids exports to South Africa exceeded the volume sent to the second major destination, Niger (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to South Africa stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and Canada (X% per year).

In value terms, South Africa ($X) emerged as the key foreign market for saturated acyclic monocarboxylic acids exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (X% per year) and Canada (X% per year).

Export Prices by Country

The average saturated acyclic monocarboxylic acids export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price continues to indicate buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%).

Imports of Saturated Acyclic Monocarboxylic Acids

Imports into Nigeria

In 2022, purchases abroad of saturated acyclic monocarboxylic acids decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids imports fell to $X in 2022. Over the period under review, total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), Indonesia (X tons) and South Africa (X tons) were the main suppliers of saturated acyclic monocarboxylic acids imports to Nigeria, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Indonesia ($X) and China ($X) constituted the largest saturated acyclic monocarboxylic acids suppliers to Nigeria, together accounting for X% of total imports. South Africa, Taiwan (Chinese), Malaysia, Belgium, Germany and Brazil lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Africa, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average saturated acyclic monocarboxylic acids import price stood at $X per ton in 2022, surging by X% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids import price increased by X% against 2019 indices. As a result, import price attained the peak level and is likely to continue 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 Taiwan (Chinese) ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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