Price for Carbides, Whether or Not Chemically Defined in Nigeria - 2022

Price for Carbides, Whether or Not Chemically Defined in Nigeria (CIF) - 2022

In 2022, the average import price for carbides, whether or not chemically defineds amounted to $1,017 per ton, picking up by 21% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for carbides, whether or not chemically defineds increased by +67.8% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 40%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($1,440 per ton), while the price for China amounted to $996 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Carbides, Whether or Not Chemically Defined in Nigeria (FOB) - 2022

In 2022, the average export price for carbides, whether or not chemically defineds amounted to $23,602 per ton, jumping by 40% against the previous year. Over the period under review, the export price enjoyed significant growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 883% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($31,908 per ton), while the average price for exports to Niger amounted to $17,898 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+46.2%).

Imports of Carbides, Whether or Not Chemically Defined in Nigeria

In 2022, purchases abroad of carbides, whether or not chemically defineds decreased by -18.5% to 8.2K tons, falling for the second year in a row after two years of growth. Overall, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by 49% against the previous year. As a result, imports attained the peak of 17K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of carbides, whether or not chemically defineds fell modestly to $8.3M in 2022. In general, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +7.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. As a result, imports attained the peak of $11M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Import of Carbides, Whether or Not Chemically Defined in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	5.0	8.1	5.9	7.8	16.0%
India	N/A	0.4	0.3	0.4	0.0%
Slovakia	0.1	0.5	0.5	N/A	123.6%
United States	0.2	0.2	0.2	N/A	0.0%
Singapore	1.1	1.3	1.4	N/A	12.8%
Others	0.3	0.4	0.1	0.1	-30.7%
Total	6.8	11.0	8.4	8.3	6.9%

Top Suppliers of Carbides, Whether or Not Chemically Defined to Nigeria in 2022:

China (7.8K tons)
India (0.3K tons)

Exports of Carbides, Whether or Not Chemically Defined in Nigeria

For the third year in a row, Nigeria recorded decline in shipments abroad of carbides, whether or not chemically defineds, which decreased by -17.8% to 13 tons in 2022. Overall, exports continue to indicate a sharp reduction. The smallest decline of -6.6% was in 2020.

In value terms, exports of carbides, whether or not chemically defineds rose notably to $318K in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.