Price for Lubricating Preparations Not for the Treatment of Materials in Nigeria - 2022
Contents:
- Price for Lubricating Preparations Not for the Treatment of Materials in Nigeria (CIF) - 2022
- Price for Lubricating Preparations Not for the Treatment of Materials in Nigeria (FOB) - 2022
- Imports of Lubricating Preparations Not for the Treatment of Materials in Nigeria
- Exports of Lubricating Preparations Not for the Treatment of Materials in Nigeria
Price for Lubricating Preparations Not for the Treatment of Materials in Nigeria (CIF) - 2022
The average import price for lubricating preparations not for the treatment of materials stood at $4,201 per ton in 2022, growing by 59% against the previous year. In general, the import price continues to indicate a resilient expansion. The import price peaked at $4,544 per ton in 2015; however, from 2016 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 Belgium ($10,869 per ton), while the price for China ($1,313 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Preparations Not for the Treatment of Materials in Nigeria (FOB) - 2022
In 2022, the average export price for lubricating preparations not for the treatment of materials amounted to $4,291 per ton, picking up by 8.2% against the previous year. In general, the export price enjoyed resilient growth. The growth pace was the most rapid in 2020 an increase of 87%. As a result, the export price attained the peak level of $7,347 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($4,957 per ton), while the average price for exports to Angola ($533 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+83.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Preparations Not for the Treatment of Materials in Nigeria
In 2022, supplies from abroad of lubricating preparations not for the treatment of materials decreased by -4.9% to 4.4K tons, falling for the second consecutive year after two years of growth. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 63%. As a result, imports reached the peak of 10K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of lubricating preparations not for the treatment of materials soared to $19M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +9.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.4% against 2020 indices.
| Import of Lubricating Preparations Not for the Treatment of Materials in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.4 | 3.3 | 1.0 | 4.8 | 26.0% |
| Germany | 3.6 | 1.9 | 3.0 | 3.2 | -3.9% |
| Belgium | 0.8 | 0.7 | 1.4 | 3.1 | 57.1% |
| Italy | N/A | 0.2 | 1.0 | 1.6 | 182.8% |
| Spain | 0.3 | 1.7 | 0.8 | 1.6 | 74.7% |
| United Kingdom | 1.9 | 2.7 | 1.6 | 0.8 | -25.0% |
| France | 0.8 | 0.9 | 0.2 | 0.6 | -9.1% |
| China | 0.4 | 0.3 | 0.6 | 0.6 | 14.5% |
| Netherlands | 0.1 | 1.1 | 1.0 | 0.4 | 58.7% |
| India | 0.3 | 0.7 | 0.2 | 0.3 | 0.0% |
| United Arab Emirates | 0.3 | 0.5 | 0.3 | 0.2 | -12.6% |
| Qatar | 2.7 | 2.7 | N/A | N/A | 0.0% |
| Israel | 0.1 | 1.0 | N/A | N/A | 900.0% |
| Others | 0.4 | 1.5 | 1.4 | 1.5 | 55.4% |
| Total | 14.1 | 19.3 | 12.3 | 18.6 | 9.7% |
Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Nigeria in 2022:
- United States (1023.8 tons)
- Germany (599.1 tons)
- China (466.0 tons)
- Spain (463.2 tons)
- Italy (433.0 tons)
- United Kingdom (311.9 tons)
- Belgium (282.9 tons)
- Netherlands (197.5 tons)
- France (155.5 tons)
- India (140.8 tons)
- United Arab Emirates (98.6 tons)
Exports of Lubricating Preparations Not for the Treatment of Materials in Nigeria
Exports of lubricating preparations not for the treatment of materials from Nigeria declined to 30 tons in 2022, with a decrease of -10.5% compared with 2021. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 13%.
In value terms, exports of lubricating preparations not for the treatment of materials declined modestly to $127K in 2022. Over the period under review, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 28% against the previous year. As a result, the exports attained the peak of $215K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Lubricating Preparations Not for the Treatment of Materials in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 59.5 | 77.7 | 69.5 | 113 | 23.8% |
| Angola | 0.2 | 1.4 | 2.5 | 2.4 | 128.9% |
| Niger | 0.2 | 0.8 | N/A | 2.0 | 115.4% |
| Cameroon | 14.6 | 10.5 | 30.4 | N/A | 44.3% |
| United States | N/A | 105 | 1.5 | N/A | -98.6% |
| Ghana | 30.9 | N/A | N/A | N/A | 0% |
| Others | 62.9 | 19.9 | 26.9 | 9.7 | -46.4% |
| Total | 168 | 215 | 131 | 127 | -8.9% |
Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Nigeria in 2022:
- Benin (22.7 tons)
- Angola (4.5 tons)
- Niger (1.6 tons)
428
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Nigeria.
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This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
428
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Nigeria.
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This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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