Nigeria - Platinum - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPlatinum Price in Nigeria - 2022
Contents:
- Platinum Price in Nigeria (CIF) - 2022
- Platinum Price in Nigeria (FOB) - 2022
- Platinum Imports in Nigeria
- Platinum Exports in Nigeria
Platinum Price in Nigeria (CIF) - 2022
The average platinum import price stood at $143,648 per ton in 2022, which is down by -19.9% against the previous year. In general, the import price saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when the average import price increased by 107% against the previous year. Over the period under review, average import prices reached the peak figure at $983,891 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
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 Germany ($146,656 per ton), while the price for South Africa ($23,292 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.4%), while the prices for the other major suppliers experienced a decline.
Platinum Price in Nigeria (FOB) - 2022
The average platinum export price stood at $706,976 per ton in 2022, with an increase of 90% against the previous year. Overall, the export price enjoyed a moderate increase. The pace of growth was the most pronounced in 2016 an increase of 108% against the previous year. Over the period under review, the average export prices hit record highs at $1,029,021 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Germany.
From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +6.6% per year.
Platinum Imports in Nigeria
For the fourth year in a row, Nigeria recorded growth in overseas purchases of platinum, which increased by 47% to 135 kg in 2022. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 179%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, platinum imports soared to $19K in 2022. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 77%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Platinum in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.3 | 4.5 | 8.9 | 10.6 | 47.5% |
| Germany | 3.6 | 4.4 | 7.7 | 8.7 | 34.2% |
| South Africa | N/A | N/A | N/A | 0.1 | 0% |
| Others | 1.1 | 0.4 | N/A | N/A | -63.6% |
| Total | 7.9 | 9.4 | 16.6 | 19.3 | 34.7% |
Top Suppliers of Platinum to Nigeria in 2022:
- China (72.0 kg)
- Germany (59.0 kg)
- South Africa (3.0 kg)
Platinum Exports in Nigeria
In 2022, the amount of platinum exported from Nigeria reached 242 kg, increasing by 5.2% on the previous year's figure. In general, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, platinum exports skyrocketed to $171K in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 26,987%. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Platinum in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 6.2 | 0.3 | 85.6 | 171 | 202.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 6.2 | 0.3 | 85.6 | 171 | 202.1% |
Top Export Markets for Platinum from Nigeria in 2022:
- Germany (242.0 kg)
This report provides an in-depth analysis of the platinum 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 24413010 -
- Prodcom 24413015 -
- Prodcom 24413020 -
- Prodcom 24413025 -
- Prodcom 24413040 -
- Prodcom 24413045 -
- Prodcom 24413055 -
- Prodcom 24413060 -
- Prodcom 24413065 -
- Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
- Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
- Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)
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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This report provides an in-depth analysis of the platinum market in Nigeria.
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This report provides an in-depth analysis of the global platinum market.
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This report provides an in-depth analysis of the platinum market in Nigeria.
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This report provides an in-depth analysis of the global platinum market.
148
Explore the top import markets for platinum, with key statistics and insights. China, the United States, and the United Kingdom lead the pack in platinum imports. Find out more.
2872
In 2016, approx. X tons of platinum were imported worldwide- jumping by X% against the previous year figure. Overall, it indicated a notable increase from 2007 to 2016: the total imports volume i...
1551
In 2016, approx. X tons of platinum were imported worldwide- jumping by X% against the previous year figure. Overall, it indicated a notable increase from 2007 to 2016: the total imports volume i...
2017
In 2014, the U.S. (X%), Switzerland (X%), the United Kingdom (X%) and Germany (X%) were the main suppliers of platinum into Italy, together making up X% of their total imports. Between 2007 and 2014, Austria had the highest growth rates in
148
Explore the top import markets for platinum, with key statistics and insights. China, the United States, and the United Kingdom lead the pack in platinum imports. Find out more.
2872
In 2016, approx. X tons of platinum were imported worldwide- jumping by X% against the previous year figure. Overall, it indicated a notable increase from 2007 to 2016: the total imports volume i...
1551
In 2016, approx. X tons of platinum were imported worldwide- jumping by X% against the previous year figure. Overall, it indicated a notable increase from 2007 to 2016: the total imports volume i...
2017
In 2014, the U.S. (X%), Switzerland (X%), the United Kingdom (X%) and Germany (X%) were the main suppliers of platinum into Italy, together making up X% of their total imports. Between 2007 and 2014, Austria had the highest growth rates in
