Price for Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria - 2022
Contents:
- Price for Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria (CIF) - 2022
- Imports of Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria
Price for Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria (CIF) - 2022
The average import price for borates; disodium tetraborate (refined borax), anhydroi stood at $1,149 per ton in 2022, falling by -19.6% against the previous year. In general, the import price, however, saw a tangible increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 65%. Over the period under review, average import prices reached the peak figure at $1,608 per ton in 2019; however, from 2020 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 Spain ($2,624 per ton), while the price for Turkey ($1,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria
In 2022, imports of borates; disodium tetraborate (refined borax), anhydroi into Nigeria skyrocketed to 416 tons, jumping by 256% compared with 2021. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 674% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of borates; disodium tetraborate (refined borax), anhydroi skyrocketed to $478K in 2022. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 317%. Imports peaked in 2022 and are likely to see gradual growth in years to come.
| Import of Borates; Disodium Tetraborate (Refined Borax), Anhydrous in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | N/A | 130 | 55.3 | 363 | 67.1% |
| India | N/A | 11.8 | 53.2 | 48.8 | 103.4% |
| Spain | N/A | N/A | N/A | 48.7 | 0% |
| China | 17.2 | 12.6 | 58.5 | 17.3 | 0.2% |
| Others | 19.9 | N/A | N/A | N/A | 0% |
| Total | 37.1 | 155 | 167 | 478 | 134.4% |
Top Suppliers of Borates; Disodium Tetraborate (Refined Borax), Anhydrous to Nigeria in 2022:
- Turkey (363.5 tons)
- India (19.8 tons)
- Spain (18.6 tons)
- China (14.2 tons)
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