Report Update Nov 1, 2024

Nigeria - Tin - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Tin Market 2024

Tin Market Size in Nigeria

The Nigerien tin market soared to $X in 2022, rising by 2,116% against the previous year. Overall, consumption posted a resilient expansion. Tin consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Tin Production in Nigeria

In value terms, tin production amounted to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 22% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Tin Exports

Exports from Nigeria

In 2022, exports of tin from Nigeria declined remarkably to X tons, shrinking by -48.2% compared with 2021. In general, exports saw a noticeable setback. The smallest decline of -8.1% was in 2016. The exports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, tin exports dropped significantly to $X in 2022. Over the period under review, exports, however, saw a mild increase. The most prominent rate of growth was recorded in 2016 when exports increased by 3.6% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Benin (X kg) was the main destination for tin exports from Nigeria, accounting for a approx. less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Benin was relatively modest.

In value terms, Benin ($X) emerged as the key foreign market for tin exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Benin was relatively modest.

Export Prices by Country

In 2022, the average tin export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price recorded tangible growth. The growth pace was the most rapid in 2016 when the average export price increased by 13% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to 0.0% per year.

Tin Imports

Imports into Nigeria

Tin imports into Nigeria reduced markedly to X tons in 2022, waning by -28.4% compared with the year before. In general, imports faced a abrupt contraction. The pace of growth was the most pronounced in 2013 when imports increased by 677% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tin imports shrank dramatically to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 1,071%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main tin supplier to Nigeria, with a 99% share of total imports. It was followed by the Netherlands (X kg), with a 0.5% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-40.7% per year) and India (-27.5% per year).

In value terms, China ($X) constituted the largest supplier of tin to Nigeria, comprising 95% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 4.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-20.6% per year) and India (-16.0% per year).

Import Prices by Country

In 2022, the average tin import price amounted to $X per ton, which is down by -20.4% against the previous year. Overall, the import price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 an increase of 51%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then shrank significantly in the following year.

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 the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+33.9%), 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 tin in the world?

China constituted the country with the largest volume of tin consumption, comprising approx. 45% of total volume. Moreover, tin consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fivefold. The third position in this ranking was occupied by Japan, with a 7% share.

What are the largest producers of tin in the world?

China constituted the country with the largest volume of tin production, comprising approx. 46% of total volume. Moreover, tin production in China exceeded the figures recorded by the second-largest producer, Indonesia, twofold. The third position in this ranking was occupied by Peru, with a 7.1% share.

What are the leading suppliers of tin to Nigeria?

In value terms, China constituted the largest supplier of tin to Nigeria.

What is the average export price for tin in Nigeria?

The average tin export price stood at $24,584 per ton in 2021, almost unchanged from the previous year.

What is the average import price for tin in Nigeria?

The average tin import price stood at $23,049 per ton in 2021, which is down by -1.6% against the previous year.

This report provides an in-depth analysis of the tin 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 24431330 - Unwrought non-alloy tin (excluding tin powders and flakes)

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