Nigeria - Zinc - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Apr 1, 2024

Nigeria - Zinc - Market Analysis, Forecast, Size, Trends And Insights

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Zinc Price in Nigeria - 2022

Contents:

  1. Zinc Price in Nigeria (CIF) - 2022
  2. Zinc Price in Nigeria (FOB) - 2022
  3. Zinc Imports in Nigeria
  4. Zinc Exports in Nigeria

Zinc Price in Nigeria (CIF) - 2022

The average zinc import price stood at $3,201 per ton in 2021, with an increase of 27% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($3,357 per ton) and the UK ($3,227 per ton), while the price for China ($2,766 per ton) and Spain ($3,012 per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Zinc Price in Nigeria (FOB) - 2022

In 2021, the average zinc export price amounted to $1,435 per ton, waning by -7.8% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 82%. Over the period under review, the average export prices hit record highs at $4,531 per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($2,657 per ton), while the average price for exports to the United Arab Emirates ($687 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Zinc Imports in Nigeria

In 2022, overseas purchases of zinc decreased by -33.6% to 4.2K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 2.2%. As a result, imports attained the peak of 13K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, zinc imports shrank to $18M in 2022. Overall, imports saw a abrupt curtailment. The smallest decline of -0.1% was in 2020.

Import of Zinc in Nigeria (Million USD)
COUNTRY201920202021CAGR,
2019-2021
Spain1.91.67.598.7%
India3.36.76.338.2%
Belgium10.79.65.6-27.7%
United Kingdom0.70.50.5-15.5%
Australia6.76.2N/A-7.5%
Netherlands1.92.3N/A21.1%
Others8.67.10.2-84.8%
Total33.933.920.1-23.0%

Top Suppliers of Zinc to Nigeria in 2022:

  1. Spain (2.5K tons)
  2. India (1.9K tons)
  3. Belgium (1.8K tons)
  4. United Kingdom (0.1K tons)

Zinc Exports in Nigeria

After three years of growth, overseas shipments of zinc decreased by -98.6% to 12 tons in 2022. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 1,307%.

In value terms, zinc exports contracted sharply to $9.4K in 2022. Overall, exports showed a precipitous decrease. The pace of growth appeared the most rapid in 2020 with an increase of 2,464% against the previous year.

Export of Zinc in Nigeria (Thousand USD)
COUNTRY201920202021CAGR,
2019-2021
India80.7248668187.7%
United Arab Emirates26.849.9329250.4%
MexicoN/AN/A1630%
JapanN/AN/A79.50%
China16789.938.8-51.8%
Sri LankaN/A57.2N/A0%
VietnamN/A251N/A0%
MalaysiaN/A44.4N/A0%
Others-255.9-269.7N/A5.4%
Total18.44711,278733.4%

Top Export Markets for Zinc from Nigeria in 2022:

  1. United Arab Emirates (478.6 tons)
  2. India (251.5 tons)
  3. Mexico (75.3 tons)
  4. Japan (41.7 tons)
  5. China (26.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the zinc market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    • Nigeria

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in Nigeria
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS
    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. MARKET STRUCTURE
      3. TRADE BALANCE
      4. PER CAPITA CONSUMPTION
      5. MARKET FORECAST TO 2030
    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT
    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES
    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS
    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY
    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY
    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
    11. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption In 2012-2023
      5. Imports, In Physical Terms, By Country, 2012–2023
      6. Imports, In Value Terms, By Country, 2012–2023
      7. Import Prices, By Country Of Origin, 2012–2023
      8. Exports, In Physical Terms, By Country, 2012–2023
      9. Exports, In Value Terms, By Country, 2012–2023
      10. Export Prices, By Country Of Destination, 2012–2023
    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
      4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
      5. Trade Balance, In Physical Terms, 2012-2023
      6. Trade Balance, In Value Terms, 2012-2023
      7. Per Capita Consumption, 2012-2023
      8. Market Volume Forecast to 2030
      9. Market Value Forecast to 2030
      10. Products: Market Size And Growth, By Type
      11. Products: Average Per Capita Consumption, By Type
      12. Products: Exports And Growth, By Type
      13. Products: Export Prices And Growth, By Type
      14. Production Volume And Growth
      15. Exports And Growth
      16. Export Prices And Growth
      17. Market Size And Growth
      18. Per Capita Consumption
      19. Imports And Growth
      20. Import Prices
      21. Production, In Physical Terms, 2012–2023
      22. Production, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, 2012–2023
      24. Imports, In Value Terms, 2012–2023
      25. Imports, In Physical Terms, By Country, 2023
      26. Imports, In Physical Terms, By Country, 2012–2023
      27. Imports, In Value Terms, By Country, 2012–2023
      28. Import Prices, By Country Of Origin, 2012–2023
      29. Exports, In Physical Terms, 2012–2023
      30. Exports, In Value Terms, 2012–2023
      31. Exports, In Physical Terms, By Country, 2023
      32. Exports, In Physical Terms, By Country, 2012–2023
      33. Exports, In Value Terms, By Country, 2012–2023
      34. Export Prices, By Country Of Destination, 2012–2023
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