Report Update Apr 1, 2024

Nigeria - Cobalt Oxides and Hydroxides and Commercial Cobalt Oxides - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides 2024

Market Size for Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Nigeria

The Nigerien cobalt oxides and hydroxides market fell to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a prominent expansion. Cobalt oxides and hydroxides consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides in Nigeria

In value terms, cobalt oxides and hydroxides production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Exports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Exports from Nigeria

In 2022, cobalt oxides and hydroxides exports from Nigeria amounted to X kg, stabilizing at 2021. Overall, exports continue to indicate a resilient expansion. The smallest decline of X% was in 2014. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cobalt oxides and hydroxides exports stood at $X in 2022. Over the period under review, exports showed a significant expansion. The smallest decline of X% was in 2014. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

South Korea (X kg) was the main destination for cobalt oxides and hydroxides exports from Nigeria, with a approx. X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to South Korea was relatively modest.

From 2013 to 2022, the average annual growth rate of value to South Korea was relatively modest.

Export Prices by Country

In 2022, the average cobalt oxides and hydroxides export price amounted to $X per ton, stabilizing at the previous year. In general, the export price saw a strong expansion. The pace of growth appeared the most rapid in 2014 a decrease of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for South Korea.

From 2013 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Imports of Cobalt Oxides And Hydroxides And Commercial Cobalt Oxides

Imports into Nigeria

For the third consecutive year, Nigeria recorded growth in supplies from abroad of cobalt oxides and hydroxides and commercial cobalt oxides, which increased by X% to X tons in 2022. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cobalt oxides and hydroxides imports soared to $X in 2022. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of cobalt oxides and hydroxides to Nigeria, accounting for a X% share of total imports. Moreover, cobalt oxides and hydroxides imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and India (X% per year).

In value terms, the largest cobalt oxides and hydroxides suppliers to Nigeria were China ($X), Belgium ($X) and India ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cobalt oxides and hydroxides import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cobalt oxides and hydroxides and commercial cobalt oxides in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and Democratic Republic of the Congo, together accounting for 40% of global consumption.

What are the largest producers of cobalt oxides and hydroxides and commercial cobalt oxides in the world?

The countries with the highest volumes of production in 2022 were China, Democratic Republic of the Congo and the United States, together accounting for 41% of global production.

What are the leading suppliers of cobalt oxides and hydroxides and commercial cobalt oxides to Nigeria?

In value terms, China, Belgium and India were the largest cobalt oxides and hydroxides suppliers to Nigeria, together comprising 99.9% of total imports.

What is the average export price for cobalt oxides and hydroxides and commercial cobalt oxides in Nigeria?

The average cobalt oxides and hydroxides export price stood at $221,500 per ton in 2022, remaining relatively unchanged against the previous year.

What is the average import price for cobalt oxides and hydroxides and commercial cobalt oxides in Nigeria?

In 2022, the average cobalt oxides and hydroxides import price amounted to $38,090 per ton, surging by 66% against the previous year.

This report provides an in-depth analysis of the market for cobalt oxides and hydroxides 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:

Prodcom 20121930 - Cobalt oxides and hydroxides, commercial cobalt oxides

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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