Nigeria: Unwrought Aluminium Alloys Market 2021

Unwrought Aluminium Alloys Market Size in Nigeria

For the fourth year in a row, the Nigerien unwrought aluminium alloys market recorded decline in sales value, which decreased by -X% to $X in 2020. Over the period under review, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X. from 2017 to 2020, the growth of the market failed to regain the momentum.

Unwrought Aluminium Alloys Production in Nigeria

In value terms, unwrought aluminium alloys production shrank modestly to $X in 2020 estimated in export prices. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the production volume increased by X% against the previous year. Unwrought aluminium alloys production peaked at $X in 2016; however, from 2017 to 2020, production remained at a lower figure.

Unwrought Aluminium Alloys Exports

Exports from Nigeria

After four years of growth, overseas shipments of unwrought aluminium alloys decreased by -X% to X tons in 2020. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Over the period under review, exports reached the maximum at X tons in 2019, and then declined slightly in the following year.

In value terms, unwrought aluminium alloys exports reduced to $X in 2020. Over the period under review, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at $X in 2019, and then declined in the following year.

Exports by Country

Japan (X tons) was the main destination for unwrought aluminium alloys exports from Nigeria, accounting for a X% share of total exports. It was followed by Germany (X tons), with a X% share of total exports. The third position in this ranking was occupied by Indonesia (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Japan amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and Indonesia (+X% per year).

In value terms, Japan ($X) remains the key foreign market for unwrought aluminium alloys exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Japan stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+X% per year) and Indonesia (+X% per year).

Export Prices by Country

The average unwrought aluminium alloys export price stood at $X per ton in 2020, dropping by -X% against the previous year. Overall, the export price showed a noticeable shrinkage. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2009; however, from 2010 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced a decline.

Unwrought Aluminium Alloys Imports

Imports into Nigeria

For the third consecutive year, Nigeria recorded decline in supplies from abroad of unwrought aluminium alloys, which decreased by -X% to X tons in 2020. Overall, imports recorded a deep reduction. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. from 2012 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, unwrought aluminium alloys imports fell to $X in 2020. Over the period under review, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

China (X tons), Malaysia (X tons) and the Netherlands (X tons) were the main suppliers of unwrought aluminium alloys imports to Nigeria, with a combined X% share of total imports.

From 2007 to 2020, the biggest increases were in Malaysia, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unwrought aluminium alloys suppliers to Nigeria were Malaysia ($X), China ($X) and Russia ($X), with a combined X% share of total imports.

Malaysia saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unwrought aluminium alloys import price stood at $X per ton in 2020, waning by -X% against the previous year. Over the period under review, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. from 2014 to 2020, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Russia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Russia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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