Nigeria: Hydrogen Chloride Market 2023

Hydrogen Chloride Market Size in Nigeria

The Nigerien hydrogen chloride market shrank to $X in 2021, falling by -10.7% against the previous year. In general, consumption, however, continues to indicate a temperate increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Hydrogen Chloride Production in Nigeria

In value terms, hydrogen chloride production reduced to $X in 2021 estimated in export price. In general, production, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2016 with an increase of 106%. Hydrogen chloride production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Hydrogen Chloride Exports

Exports from Nigeria

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were exported from Nigeria; dropping by -9.2% compared with 2020 figures. Overall, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2020 when exports increased by 166% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, hydrogen chloride exports declined to $X in 2021. In general, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 86% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Benin (X tons) was the main destination for hydrogen chloride exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to -11.6%.

In value terms, Benin ($X) also remains the key foreign market for hydrogen chloride (hydrochloric acid) exports from Nigeria.

From 2012 to 2021, the average annual growth rate of value to Benin stood at -18.5%.

Export Prices by Country

In 2021, the average hydrogen chloride export price amounted to $X per ton, reducing by -2.6% against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 66% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Niger amounted to -0.7% per year.

Hydrogen Chloride Imports

Imports into Nigeria

In 2021, after two years of growth, there was significant decline in purchases abroad of hydrogen chloride (hydrochloric acid), when their volume decreased by -23.5% to X tons. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 89% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped rapidly in the following year.

In value terms, hydrogen chloride imports fell sharply to $X in 2021. Over the period under review, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 91%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest supplier of hydrogen chloride to Nigeria, accounting for a 60% share of total imports. Moreover, hydrogen chloride imports from Pakistan exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Egypt (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Pakistan stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.5% per year) and Egypt (0.0% per year).

In value terms, Pakistan ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to Nigeria, comprising 59% of total imports. The second position in the ranking was taken by India ($X), with a 23% share of total imports. It was followed by Egypt, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Pakistan stood at +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.8% per year) and Egypt (0.0% per year).

Import Prices by Country

In 2021, the average hydrogen chloride import price amounted to $X per ton, picking up by 5.5% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2018 an increase of 49% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+51.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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