Nigeria: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Nigeria

The Nigerien hydrogen chloride market declined modestly to $X in 2022, which is down by X% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Hydrogen chloride consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Hydrogen Chloride Production in Nigeria

In value terms, hydrogen chloride production fell to $X in 2022 estimated in export price. Overall, production enjoyed tangible growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Hydrogen chloride production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Hydrogen Chloride Exports

Exports from Nigeria

In 2022, overseas shipments of hydrogen chloride (hydrochloric acid) increased by X% to X tons, rising for the third year in a row after seven years of decline. Over the period under review, exports showed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, hydrogen chloride exports soared to $X in 2022. In general, exports, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X tons) was the main destination for hydrogen chloride exports from Nigeria, with a X% share of total exports. It was followed by Niger (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Benin stood at X%.

In value terms, Benin ($X) remains the key foreign market for hydrogen chloride (hydrochloric acid) exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Benin totaled X%.

Export Prices by Country

The average hydrogen chloride export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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

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

Hydrogen Chloride Imports

Imports into Nigeria

In 2022, overseas purchases of hydrogen chloride (hydrochloric acid) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hydrogen chloride imports surged to $X in 2022. In general, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Pakistan (X tons) was the main supplier of hydrogen chloride to Nigeria, with a X% share of total imports. Moreover, hydrogen chloride imports from Pakistan exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

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

In value terms, Pakistan ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to Nigeria, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Pakistan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and South Africa (X% per year).

Import Prices by Country

In 2022, the average hydrogen chloride import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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