Nigeria - Cyclic Hydrocarbons - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCyclic Hydrocarbons Price in Nigeria - 2022
Contents:
- Cyclic Hydrocarbons Price in Nigeria (CIF) - 2022
- Cyclic Hydrocarbons Price in Nigeria (FOB) - 2022
- Cyclic Hydrocarbons Imports in Nigeria
- Cyclic Hydrocarbons Exports in Nigeria
Cyclic Hydrocarbons Price in Nigeria (CIF) - 2022
In June 2022, the average cyclic hydrocarbons import price amounted to $1,562 per ton, growing by 37% against the previous month. Over the period from June 2021 to June 2022, it increased at an average monthly rate of +4.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of origin: the country with the highest price was China ($15,223 per ton), while the price for South Korea ($520 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by China (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Cyclic Hydrocarbons Price in Nigeria (FOB) - 2022
The average cyclic hydrocarbons export price stood at $373 per ton in 2022, falling by -28.6% against the previous year. In general, the export price faced a abrupt downturn. The growth pace was the most rapid in 2021 when the average export price increased by 39%. The export price peaked at $1,638 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($2,368 per ton), while the average price for exports to Niger ($310 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 the Netherlands (-4.4%), while the prices for the other major destinations experienced a decline.
Cyclic Hydrocarbons Imports in Nigeria
Cyclic hydrocarbons imports into Nigeria totaled 33K tons in 2022, with an increase of 5.1% on 2021. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +6.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -27.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 68%. As a result, imports attained the peak of 45K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, cyclic hydrocarbons imports skyrocketed to $53M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +24.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 51%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Cyclic Hydrocarbons in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 1.4 | 1.6 | 6.4 | 8.4 | 81.7% |
| Barbados | 3.0 | 3.5 | 5.2 | 7.6 | 36.3% |
| Netherlands | 1.5 | 0.4 | 1.5 | 5.7 | 56.0% |
| United Arab Emirates | 1.6 | 1.9 | 0.7 | 5.3 | 49.1% |
| India | 1.1 | 0.8 | 3.0 | 3.3 | 44.2% |
| South Korea | 10.7 | 21.3 | 3.8 | 3.3 | -32.4% |
| Russia | 0.4 | 1.1 | 2.1 | 2.7 | 89.0% |
| Spain | 1.2 | 1.9 | 2.0 | 2.7 | 31.0% |
| Saudi Arabia | 0.1 | 0.6 | 1.4 | 1.8 | 162.1% |
| China | 0.6 | 0.2 | 0.8 | 1.7 | 41.5% |
| Germany | 1.2 | 1.2 | 1.4 | 1.6 | 10.1% |
| Thailand | 0.3 | 0.1 | 1.2 | 1.5 | 71.0% |
| Belgium | 1.2 | 2.4 | 3.5 | 0.9 | -9.1% |
| Others | 3.1 | 4.5 | 5.8 | 6.0 | 24.6% |
| Total | 27.4 | 41.5 | 38.6 | 52.5 | 24.2% |
Top Suppliers of Cyclic Hydrocarbons to Nigeria in 2022:
- United Arab Emirates (5.8K tons)
- Taiwan (Chinese) (5.1K tons)
- Netherlands (3.6K tons)
- Barbados (2.8K tons)
- Germany (1.9K tons)
- South Korea (1.9K tons)
- India (1.6K tons)
- Spain (1.6K tons)
- Russia (1.2K tons)
- China (0.9K tons)
- Saudi Arabia (0.8K tons)
- Thailand (0.8K tons)
- Belgium (0.5K tons)
Cyclic Hydrocarbons Exports in Nigeria
In 2022, the amount of cyclic hydrocarbons exported from Nigeria surged to 5.8K tons, increasing by 29% against the year before. The total export volume increased at an average annual rate of +11.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, cyclic hydrocarbons exports dropped to $2.2M in 2022. The total export value increased at an average annual rate of +8.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 18%.
| Export of Cyclic Hydrocarbons in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 20.5 | 0.3 | 479 | 1,724 | 338.1% |
| Netherlands | 25.2 | 0.2 | 203 | 252 | 115.4% |
| Benin | 1,647 | 4.8 | 258 | 101 | -60.6% |
| Kenya | N/A | N/A | 1,405 | N/A | 0% |
| Singapore | N/A | 1,988 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | 92.6 | 0% |
| Total | 1,693 | 1,993 | 2,346 | 2,170 | 8.6% |
Top Export Markets for Cyclic Hydrocarbons from Nigeria in 2022:
- Niger (5.6K tons)
- Netherlands (0.1K tons)
- Benin (0.1K tons)
This report provides an in-depth analysis of the cyclic hydrocarbons 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 20141213 - Cyclohexane
- Prodcom 20141215 - Cyclanes, cyclenes and cycloterpenes (excluding cyclohexane)
- Prodcom 20141223 - Benzene
- Prodcom 20141225 - Toluene
- Prodcom 20141243 - o-Xylene
- Prodcom 20141245 - p-Xylene
- Prodcom 20141247 - m-Xylene and mixed xylene isomers
- Prodcom 20141250 - Styrene
- Prodcom 20141260 - Ethylbenzene
- Prodcom 20141270 - Cumene
- Prodcom 20141290 - Other cyclic hydrocarbons
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.
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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
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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
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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
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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
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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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