Price for Silicates; Commercial Alkali Metal Silicates in Nigeria - 2022
Contents:
- Price for Silicates; Commercial Alkali Metal Silicates in Nigeria (CIF) - 2022
- Price for Silicates; Commercial Alkali Metal Silicates in Nigeria (FOB) - 2022
- Imports of Silicates; Commercial Alkali Metal Silicates in Nigeria
- Exports of Silicates; Commercial Alkali Metal Silicates in Nigeria
Price for Silicates; Commercial Alkali Metal Silicates in Nigeria (CIF) - 2022
The average import price for silicates; commercial alkali metal silicateses stood at $581 per ton in June 2022, with an increase of 49% against the previous month. Overall, the import price, however, recorded a slight setback. The growth pace was the most rapid in February 2022 when the average import price increased by 383% month-to-month. As a result, import price attained the peak level of $887 per ton. From March 2022 to June 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($1,185 per ton), while the price for India ($310 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Silicates; Commercial Alkali Metal Silicates in Nigeria (FOB) - 2022
In 2022, the average export price for silicates; commercial alkali metal silicateses amounted to $119 per ton, rising by 5.5% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decrease. The export price peaked at $458 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($473 per ton), while the average price for exports to Ghana totaled $100 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+4.5%).
Imports of Silicates; Commercial Alkali Metal Silicates in Nigeria
In 2022, overseas purchases of silicates; commercial alkali metal silicateses decreased by -29.7% to 8.5K tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2020 when imports increased by 101% against the previous year. As a result, imports reached the peak of 18K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, silicates; commercial alkali metal silicates imports shrank remarkably to $5.1M in 2022. In general, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 91% against the previous year. As a result, imports attained the peak of $7.3M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Silicates; Commercial Alkali Metal Silicates in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 500 | 2,884 | 3,193 | 3,386 | 89.2% |
| Italy | 327 | 365 | 415 | 290 | -3.9% |
| India | 789 | 2,152 | 1,751 | 276 | -29.5% |
| Barbados | 147 | 206 | 279 | 232 | 16.4% |
| Spain | 279 | 314 | 344 | 222 | -7.3% |
| France | 332 | 21.0 | 209 | 155 | -22.4% |
| Romania | 122 | 121 | 116 | 68.1 | -17.7% |
| Germany | 777 | 105 | 84.0 | 50.4 | -59.8% |
| Others | 531 | 1,100 | 809 | 403 | -8.8% |
| Total | 3,804 | 7,267 | 7,201 | 5,083 | 10.1% |
Top Suppliers of Silicates; Commercial Alkali Metal Silicates to Nigeria in 2022:
- China (5613.9 tons)
- Italy (614.3 tons)
- France (581.1 tons)
- India (546.9 tons)
- Barbados (314.4 tons)
- Spain (187.1 tons)
- Romania (147.6 tons)
- Germany (25.6 tons)
Exports of Silicates; Commercial Alkali Metal Silicates in Nigeria
In 2022, after three years of growth, there was decline in shipments abroad of silicates; commercial alkali metal silicateses, when their volume decreased by -3.1% to 241 tons. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.0% 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 +52.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. As a result, the exports reached the peak of 248 tons, and then reduced slightly in the following year.
In value terms, silicates; commercial alkali metal silicates exports totaled $29K in 2022. In general, exports saw a mild downturn.
| Export of Silicates; Commercial Alkali Metal Silicates in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 7.6 | 11.7 | 15.9 | 22.9 | 44.4% |
| Cote d'Ivoire | 22.1 | 17.4 | 12.0 | 5.6 | -36.7% |
| Others | 0.3 | 0.1 | 0.1 | 0.1 | -30.7% |
| Total | 29.9 | 29.2 | 28.0 | 28.6 | -1.5% |
Top Export Markets for Silicates; Commercial Alkali Metal Silicates from Nigeria in 2022:
- Ghana (228.8 tons)
- Cote d'Ivoire (11.8 tons)
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