Nigeria - Argon - Market Analysis, Forecast, Size, Trends And Insights
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View PricingArgon Price in Nigeria - 2022
Contents:
- Argon Price in Nigeria (CIF) - 2022
- Argon Price in Nigeria (FOB) - 2022
- Argon Imports in Nigeria
- Argon Exports in Nigeria
Argon Price in Nigeria (CIF) - 2022
The average argon import price stood at $2.1 per cubic meter in June 2022, jumping by 63% against the previous month. Overall, the import price recorded a pronounced expansion. The growth pace was the most rapid in September 2021 when the average import price increased by 139% month-to-month. Over the period under review, average import prices reached the peak figure at $6.7 per cubic meter in October 2021; however, from November 2021 to June 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was Singapore ($2.7 per cubic meter), while the price for India ($1.1 per cubic meter) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Argon Price in Nigeria (FOB) - 2022
The average argon export price stood at $1.8 per cubic meter in 2022, reducing by -17.7% against the previous year. Over the period under review, the export price, however, recorded a tangible increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 137% against the previous year. The export price peaked at $2.2 per cubic meter in 2021, and then reduced rapidly in the following year.
As there is only one major export destination, the average price level is determined by prices for Belgium.
From 2012 to 2022, the rate of growth in terms of prices for Belgium amounted to +3.2% per year.
Argon Imports in Nigeria
In 2022, the amount of argon imported into Nigeria surged to 1.9M cubic meters, rising by 20% compared with the previous year. Overall, imports, however, saw a abrupt descent. Imports peaked at 2.8M cubic meters in 2020; however, from 2021 to 2022, imports failed to regain momentum.
In value terms, argon imports soared to $4.9M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Argon in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 348 | 1,013 | 214 | 850 | 34.7% |
| South Korea | 811 | 649 | 530 | 842 | 1.3% |
| Belgium | 1,137 | 1,582 | 433 | 796 | -11.2% |
| China | 328 | 117 | 225 | 649 | 25.5% |
| France | 567 | 523 | 96.7 | 620 | 3.0% |
| United Arab Emirates | 28.6 | 130 | 98.1 | 176 | 83.3% |
| Lebanon | 53.5 | 57.6 | 63.4 | 136 | 36.5% |
| South Africa | 164 | 21.3 | 62.4 | 129 | -7.7% |
| Portugal | 40.8 | 29.3 | 21.5 | 30.7 | -9.0% |
| Others | 131 | 75.7 | 1,300 | 714 | 76.0% |
| Total | 3,609 | 4,198 | 3,043 | 4,942 | 11.0% |
Top Suppliers of Argon to Nigeria in 2022:
- China (314.8K cubic meters)
- South Korea (305.2K cubic meters)
- Netherlands (282.7K cubic meters)
- France (271.3K cubic meters)
- Belgium (192.6K cubic meters)
- United Arab Emirates (65.6K cubic meters)
- Lebanon (60.5K cubic meters)
- Portugal (48.5K cubic meters)
- South Africa (48.1K cubic meters)
Argon Exports in Nigeria
In 2022, approx. 1.5K cubic meters of argon were exported from Nigeria; falling by -3.4% against the previous year's figure. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2021 when exports increased by 7.3%. The exports peaked at 2.1K cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, argon exports shrank significantly to $2.8K in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 69% against the previous year. The exports peaked at $3.5K in 2021, and then reduced rapidly in the following year.
| Export of Argon in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 1.2 | 2.0 | 3.5 | 2.7 | 31.0% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 1.2 | 2.1 | 3.5 | 2.8 | 32.6% |
Top Export Markets for Argon from Nigeria in 2022:
- Belgium (1543.0 cubic meters)
This report provides an in-depth analysis of the argon 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 20111120 - Argon
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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