Nigeria - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFormaldehyde Price in Nigeria - 2022
Contents:
- Formaldehyde Price in Nigeria (CIF) - 2022
- Formaldehyde Price in Nigeria (FOB) - 2022
- Formaldehyde Imports in Nigeria
- Formaldehyde Exports in Nigeria
Formaldehyde Price in Nigeria (CIF) - 2022
The average formaldehyde import price stood at $703 per ton in June 2022, which is down by -21.4% against the previous month. Over the period under review, import price indicated notable growth from June 2021 to June 2022: its price increased at an average monthly rate of +3.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2022 figures, formaldehyde import price decreased by -21.4% against May 2022 indices. The most prominent rate of growth was recorded in November 2021 when the average import price increased by 37% month-to-month. The import price peaked at $1,040 per ton in December 2021; however, from January 2022 to June 2022, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In June 2022, the country with the highest price was India ($822 per ton), while the price for Belgium ($610 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 Spain (+48.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Formaldehyde Price in Nigeria (FOB) - 2022
The average formaldehyde export price stood at $276 per ton in 2022, dropping by -40.4% against the previous year. In general, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 80% against the previous year. The export price peaked at $1,659 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($442 per ton), while the average price for exports to Togo stood at $270 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sierra Leone (+22.4%).
Formaldehyde Imports in Nigeria
Formaldehyde imports into Nigeria expanded notably to 15K tons in 2022, with an increase of 6.2% against 2021. In general, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 145%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, formaldehyde imports surged to $17M in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 257% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Formaldehyde in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Oman | 3.2 | 1.2 | 3.4 | 5.4 | 19.1% |
| Egypt | 0.5 | 0.1 | 1.4 | 3.4 | 89.5% |
| Belgium | 0.8 | 0.9 | 2.2 | 3.2 | 58.7% |
| Spain | 0.1 | N/A | 0.4 | 0.6 | 81.7% |
| China | 0.1 | 0.1 | 0.2 | 0.4 | 58.7% |
| United States | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Others | 1.3 | 0.6 | 2.6 | 4.3 | 49.0% |
| Total | 5.9 | 2.9 | 10.3 | 17.4 | 43.4% |
Top Suppliers of Formaldehyde to Nigeria in 2022:
- Oman (5.1K tons)
- Egypt (3.3K tons)
- Belgium (2.2K tons)
- United States (0.8K tons)
- Spain (0.5K tons)
- China (0.3K tons)
Formaldehyde Exports in Nigeria
In 2022, approx. 1.5 tons of formaldehyde were exported from Nigeria; reducing by -7.8% on the previous year. In general, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 1,510% against the previous year. As a result, the exports reached the peak of 1.6 tons, and then contracted in the following year.
In value terms, formaldehyde exports fell sharply to $409 in 2022. Over the period under review, exports faced a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 921%. As a result, the exports attained the peak of $745, and then dropped dramatically in the following year.
| Export of Formaldehyde in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Togo | N/A | N/A | N/A | 386 | 0% |
| Benin | 661 | 73.0 | 745 | 23.0 | -67.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 661 | 73.0 | 745 | 409 | -14.8% |
Top Export Markets for Formaldehyde from Nigeria in 2022:
- Togo (1432.0 kg)
- Benin (52.0 kg)
This report provides an in-depth analysis of the formaldehyde 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 20146111 - Methanal (formaldehyde)
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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In value terms, halogenated, sulphonated, nitrated aldehydes exports totaled $X in 2016. The total export value increased at an average annual rate of +X% over the period from 2007 to 2016; the tr...
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In value terms, aldehydes imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some noticeable fluctuatio...
999
In value terms, halogenated, sulphonated, nitrated aldehydes imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern ...
938
In value terms, aldehydes exports amounted to $X in 2016. The total export value increased at an average annual rate of +X% over the period from 2007 to 2016; however, the trend pattern indicated...
620
In value terms, halogenated, sulphonated, nitrated aldehydes exports totaled $X in 2016. The total export value increased at an average annual rate of +X% over the period from 2007 to 2016; the tr...
