Report Update Apr 1, 2024

Nigeria - Linseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Linseed Oil Market 2024

Linseed Oil Market Size in Nigeria

In 2022, the Nigerien linseed oil market increased by X% to $X, rising for the third year in a row after three years of decline. In general, consumption showed a significant increase. Linseed oil consumption peaked in 2022 and is likely to see steady growth in the near future.

Linseed Oil Exports

Exports from Nigeria

In 2022, approx. X kg of linseed oil were exported from Nigeria; increasing by X% on the year before. In general, exports, however, showed a deep contraction. Over the period under review, the exports hit record highs at X kg in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, linseed oil exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X kg) was the main destination for linseed oil exports from Nigeria, accounting for a X% share of total exports. It was followed by the Netherlands (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa amounted to X%.

In value terms, the Netherlands ($X) and South Africa ($X) constituted the largest markets for linseed oil exported from Nigeria worldwide.

South Africa, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average linseed oil export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank notably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to South Africa amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X.3%).

Linseed Oil Imports

Imports into Nigeria

For the third year in a row, Nigeria recorded growth in supplies from abroad of linseed oil, which increased by X% to X tons in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, linseed oil imports surged to $X in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Panama (X tons), Indonesia (X tons) and Liberia (X tons) were the main suppliers of linseed oil imports to Nigeria, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constituted the largest supplier of linseed oil to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled X.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Belgium (X% per year).

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price faced a significant decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (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 linseed oil in the world?

China remains the largest linseed oil consuming country worldwide, accounting for 30% of total volume. Moreover, linseed oil consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Germany ranked third in terms of total consumption with a 7.6% share.

What are the largest producers of linseed oil in the world?

The countries with the highest volumes of production in 2022 were China, Belgium and the United States, together accounting for 55% of global production. Germany, India, Russia, Ethiopia, the UK, Kazakhstan, the Dominican Republic, Canada, Poland and Afghanistan lagged somewhat behind, together comprising a further 34%.

What are the leading suppliers of linseed oil to Nigeria?

In value terms, Indonesia constituted the largest supplier of linseed oil to Nigeria, comprising 44% of total imports. The second position in the ranking was taken by India, with a 21% share of total imports. It was followed by Belgium, with a 14% share.

What are the leading importers of linseed oil from Nigeria?

In value terms, the Netherlands $63) and South Africa $43) were the largest markets for linseed oil exported from Nigeria worldwide.

What is the average export price for linseed oil in Nigeria?

The average linseed oil export price stood at $617 per ton in 2022, shrinking by -80.2% against the previous year.

What is the average import price for linseed oil in Nigeria?

In 2022, the average linseed oil import price amounted to $125 per ton, reducing by -45.5% against the previous year.

This report provides an in-depth analysis of the linseed oil 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:

FCL 334 - Oil of Linseed

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