Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria - 2022
Contents:
- Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria (CIF) - 2022
- Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria
Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria (CIF) - 2022
The average import price for acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses stood at $1,890 per ton in 2022, with a decrease of -16.7% against the previous year. Overall, the import price continues to indicate a slight setback. The growth pace was the most rapid in 2021 when the average import price increased by 74% against the previous year. As a result, import price attained the peak level of $2,268 per ton, and then reduced markedly in the following year.
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 UK ($3,749 per ton), while the price for Egypt ($1,348 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+40.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria
In 2022, supplies from abroad of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses decreased by -35.8% to 1.5K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by 22%.
In value terms, imports of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses reduced rapidly to $2.8M in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 86%. As a result, imports reached the peak of $5.3M, and then contracted notably in the following year.
| Import of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,008 | 1,346 | 3,449 | 1,898 | 23.5% |
| Egypt | N/A | 92.3 | 200 | 784 | 191.4% |
| United Kingdom | 56.3 | 41.3 | 15.2 | 97.2 | 20.0% |
| India | 165 | 179 | 195 | 68.8 | -25.3% |
| Germany | 340 | 196 | 171 | 1.6 | -83.2% |
| Russia | 69.8 | 187 | 118 | N/A | 30.0% |
| Japan | 74.4 | 52.3 | 90.5 | N/A | 10.3% |
| United Arab Emirates | 280 | 108 | 240 | N/A | -7.4% |
| Saudi Arabia | 602 | 474 | 510 | N/A | -8.0% |
| United States | 69.4 | 42.8 | 65.0 | N/A | -3.2% |
| Others | 226 | 138 | 270 | N/A | 9.3% |
| Total | 2,890 | 2,856 | 5,324 | 2,849 | -0.5% |
Top Suppliers of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts to Nigeria in 2022:
- China (864.2 tons)
- Egypt (581.5 tons)
- India (35.2 tons)
- United Kingdom (25.9 tons)
- Germany (1.0 tons)
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