Nigeria - Ethyl Alcohol - Market Analysis, Forecast, Size, Trends and Insights
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View PricingEthanol Price in Nigeria - 2022
Contents:
- Ethanol Price in Nigeria (CIF) - 2022
- Ethanol Price in Nigeria (FOB) - 2022
- Ethanol Imports in Nigeria
- Ethanol Exports in Nigeria
Ethanol Price in Nigeria (CIF) - 2022
In 2022, the average ethanol import price amounted to $1.2 per litre, picking up by 14% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanol import price decreased by -10.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 50%. The import price peaked at $1.3 per litre in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
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 United States ($1.2 per litre), while the price for India ($0.5 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Ethanol Price in Nigeria (FOB) - 2022
In 2022, the average ethanol export price amounted to $0.6 per litre, increasing by 2.8% against the previous year. Overall, the export price, however, showed a noticeable reduction. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, the export price reached the peak level of $1 per litre. From 2014 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($0.7 per litre), while the average price for exports to Benin ($0.5 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+10.5%), while the prices for the other major destinations experienced a decline.
Ethanol Imports in Nigeria
Ethanol imports into Nigeria reduced to 274M litres in 2022, falling by -9.6% on 2021 figures. Overall, imports showed a pronounced shrinkage. The growth pace was the most rapid in 2021 when imports increased by 7.9%. Imports peaked at 312M litres in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, ethanol imports totaled $315M in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 12%. As a result, imports reached the peak of $360M. From 2021 to 2022, the growth of imports failed to regain momentum.
Import of Ethanol in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 248 | 315 | 183 | 140 | -17.4% |
Brazil | 21.8 | 16.1 | 92.5 | 140 | 85.9% |
South Africa | 15.4 | 12.0 | 9.7 | 9.2 | -15.8% |
Pakistan | 11.1 | 2.0 | 2.9 | 7.0 | -14.2% |
India | 3.2 | 2.6 | 2.6 | 5.4 | 19.1% |
Canada | 15.4 | 6.0 | 9.0 | 0.9 | -61.2% |
Others | 6.0 | 5.7 | 6.8 | 12.6 | 28.1% |
Total | 320 | 360 | 307 | 315 | -0.5% |
Top Suppliers of Ethanol to Nigeria in 2022:
- Brazil (115.7M litres)
- United States (113.4M litres)
- India (11.6M litres)
- South Africa (10.8M litres)
- Pakistan (9.7M litres)
- Canada (1.4M litres)
Ethanol Exports in Nigeria
In 2022, the amount of ethyl alcohol exported from Nigeria surged to 681K litres, increasing by 83% against the year before. Overall, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by 431% against the previous year. As a result, the exports attained the peak of 1.1M litres. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, ethanol exports skyrocketed to $394K in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 468%. As a result, the exports attained the peak of $579K. From 2021 to 2022, the growth of the exports remained at a lower figure.
Export of Ethanol in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Ghana | 63.5 | 286 | 113 | 224 | 52.2% |
Benin | 31.3 | 125 | 44.7 | 138 | 64.0% |
Niger | 7.0 | 17.8 | 51.2 | 32.9 | 67.5% |
Cote d'Ivoire | N/A | 107 | N/A | N/A | 0% |
Democratic Republic of the Congo | N/A | 23.5 | N/A | N/A | 0% |
Chad | N/A | 19.7 | N/A | N/A | 0% |
Others | 0.3 | 0.6 | 0.4 | 0.2 | -12.6% |
Total | 102 | 579 | 209 | 394 | 56.9% |
Top Export Markets for Ethanol from Nigeria in 2022:
- Ghana (335.4K litres)
- Benin (298.7K litres)
- Niger (47.0K litres)
This report provides an in-depth analysis of the ethanol 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 20147400 - Undenatured ethyl alcohol of an alcoholic strength by volume. .80 % (important: excluding alcohol duty)
- Prodcom 20147500 - Denatured ethyl alcohol and other denatured spirits, of any strength
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
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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
This report provides an in-depth analysis of the ethanol market in Nigeria.
This report provides an in-depth analysis of the denatured ethyl alcohol market in Nigeria.
This report provides an in-depth analysis of the global ethanol market.
This report provides an in-depth analysis of the global denatured ethyl alcohol market.
This report provides an in-depth analysis of the ethanol market in Nigeria.
This report provides an in-depth analysis of the denatured ethyl alcohol market in Nigeria.
This report provides an in-depth analysis of the global ethanol market.
This report provides an in-depth analysis of the global denatured ethyl alcohol market.
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