Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria (CIF) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; esters of formic acids stood at $1,008 per ton in 2022, with a decrease of -11.8% against the previous year. In general, the import price continues to indicate a abrupt slump. The growth pace was the most rapid in 2014 when the average import price increased by 81% against the previous year. The import price peaked at $6,367 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($6,329 per ton), while the price for the United States ($501 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.5%), while the prices for the other major suppliers experienced a decline.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria
In 2022, the amount of acids; saturated acyclic monocarboxylic acids; esters of formic acids imported into Nigeria skyrocketed to 11 tons, increasing by 22% on 2021. The total import volume increased at an average annual rate of +3.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; esters of formic acids expanded sharply to $11K in 2022. Overall, imports, however, continue to indicate a abrupt setback.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 3.9 | 3.5 | 2.6 | 4.7 | 6.4% |
| United Kingdom | 15.8 | 11.4 | 7.5 | 3.5 | -39.5% |
| Germany | 0.1 | 0.2 | 0.4 | 3.1 | 214.1% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 19.8 | 15.1 | 10.5 | 11.3 | -17.1% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Esters of Formic Acid to Nigeria in 2022:
- United States (9.3 tons)
- Germany (1.3 tons)
- United Kingdom (0.6 tons)
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