Report Update Apr 1, 2024

Nigeria - Lithium Carbonate - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Lithium Carbonate Market 2024

Lithium Carbonate Market Size in Nigeria

For the ninth consecutive year, the Nigerien lithium carbonate market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, recorded a sharp contraction. Lithium carbonate consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Lithium Carbonate Production in Nigeria

In value terms, lithium carbonate production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a dramatic curtailment. Lithium carbonate production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lithium Carbonate Exports

Exports from Nigeria

In 2022, the amount of lithium carbonates exported from Nigeria declined slightly to X tons, reducing by X% against 2021. Overall, exports, however, continue to indicate a significant increase. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, lithium carbonate exports skyrocketed to $X in 2022. In general, exports, however, recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for lithium carbonate exports from Nigeria, accounting for a X% share of total exports. Moreover, lithium carbonate exports to China exceeded the volume sent to the second major destination, Russia (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest.

In value terms, China ($X) emerged as the key foreign market for lithium carbonates exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China was relatively modest.

Export Prices by Country

The average lithium carbonate export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, recorded a sharp decrease. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Carbonate Imports

Imports into Nigeria

In 2022, supplies from abroad of lithium carbonates decreased by X% to X kg, falling for the third year in a row after two years of decline. In general, imports recorded a sharp decrease. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, lithium carbonate imports totaled $X in 2022. Overall, imports saw a significant decline. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest lithium carbonate supplier to Nigeria, with a X% share of total imports. Moreover, lithium carbonate imports from China exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold.

From 2013 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of lithium carbonates to Nigeria, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and India (X% per year).

Import Prices by Country

The average lithium carbonate import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price posted a strong increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lithium carbonate in the world?

China constituted the country with the largest volume of lithium carbonate consumption, comprising approx. 73% of total volume. Moreover, lithium carbonate consumption in China exceeded the figures recorded by the second-largest consumer, South Korea, sevenfold. Japan ranked third in terms of total consumption with a 7% share.

What are the largest producers of lithium carbonate in the world?

The country with the largest volume of lithium carbonate production was Chile, accounting for 90% of total volume. Moreover, lithium carbonate production in Chile exceeded the figures recorded by the second-largest producer, China, more than tenfold.

What are the leading suppliers of lithium carbonate to Nigeria?

In value terms, China $249) constituted the largest supplier of lithium carbonates to Nigeria, comprising 95% of total imports. The second position in the ranking was held by the Netherlands $12), with a 4.6% share of total imports.

What are the leading importers of lithium carbonate from Nigeria?

In value terms, China emerged as the key foreign market for lithium carbonates exports from Nigeria, comprising 79% of total exports. The second position in the ranking was taken by Russia, with a 21% share of total exports.

What is the average export price for lithium carbonate in Nigeria?

In 2022, the average lithium carbonate export price amounted to $144 per ton, rising by 345% against the previous year.

What is the average import price for lithium carbonate in Nigeria?

The average lithium carbonate import price stood at $13,842 per ton in 2022, approximately equating the previous year.

This report provides an in-depth analysis of the lithium carbonate 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:

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